A permalink is a permanent link to a post, page, or other Web content. Permalinks do not change or break over time.
WordPress automatically generates permalinks for each individual post, page, category and list so Internet users can share them easily. WordPress administrators can change the format of a site’s permalinks under the Settings | Permalinks panel of the Administration Area. For example, they can choose a format that includes the date and title of the post, or define a custom format by entering structure tags.