The spot price is the value of the object right now, or "on the spot". It is different from a futures contract, which puts a value on an object or commodity in the future.

For example, let's say you want to buy a bottle of water. You are thirsty, and you want water right now. The person behind the counter charges you 1 USD for a bottle of water. Thus, 1 USD is the "spot" price of water in this store, i.e. the price that you will pay right now, or "on the spot".

On the other hand, suppose you want to fix the price of water for a certain period in the future. You conclude an agreement with the store owner that, taking into account inflation, supply and demand, as well as taking into account future uncertainty, its price will be 1.05 USD. That is, you have concluded a futures contract for water.

When you see a link to the "spot" or "cash" market, you understand that you are dealing with the Forex market. This is the difference between the current (spot) market and the future (futures) market.