Glossary
Callout - an outbound HTTP request from your Salesforce org to an external system.
Named Credential - a Salesforce setup record that stores the host and, with an External Credential, the authentication for a callout. Lets you call an API without pasting a URL or token into a Flow.
External Credential - the auth half of the pair: stores the OAuth details and mints the bearer token Salesforce attaches to each callout.
OAuth 2.0 Client Credentials - a machine-to-machine OAuth flow. No user logs in; a client id + secret are exchanged for a short-lived bearer token.
Outbound - your org calls the partner (place/read/cancel orders).
Inbound - the partner calls your org (count/lookup/update records).
Autolaunched Flow - a Flow with no UI, runnable by a system/integration rather than a user. Inbound actions run against these.
Status codes - 2xx success (201 created), 4xx your request was wrong
(400 bad payload, 401 auth failed).