What is swatches palette? - Photoshop

What is swatches palette?

- Color swatches are a set of colors.

- Photoshop supports to create custom swatches.

- Some specific colors can be applied without remembering the numeric color values.

- Colors can be extracted from an available image.

- Default swatches and custom swatches can be used.

- Custom swatch collections are vigorously used