The idea before the name
A binary code is a dictionary from symbols to bits. For example, a code might say A = 0, B = 10, and N = 11.
The trick is that code lengths are allowed to differ. A letter that appears 6 times pays for its code 6 times, so saving one bit on that letter matters 6 times.
A Huffman code is the code you get from a specific greedy recipe: keep joining the two least common symbols, then read 0s and 1s from the tree. The result gives common symbols short codes while staying decodable.
BANANAA=0, N=10, B=1111 0 10 0 10 0