An IP address is basically the numerical version of your domain name.
We use domain names to keep things more memorable and clearer for us humans when navigating to a website. IP addresses are just the numerical version of this. It would be a lot harder to remember the long numbers to find your favourite websites!
Using DNS and A records, your domain name is ‘converted’ into an IP which is where your website lives. As stated in the title, the IP is an address for your website – and the hosting is the house!
The internet’s DNS system acts like a giant phone book. So, when you type in the domain, it will look up the associated number (IP address) and connect you to that website.