There are good sibling explanations by @ta20211004_1 and @HarHarVeryFunny, but if I can try in an additional way:
Imagine you wanted to go from words to numbers (which are easier to work with mathematically), like you wanted to assign a number to some words.
How could you do it? Well you could do it randomly: cat could be 2, dog could be 10, sweater could be 4.534 and frog could be 8.
Not super useful, but hey - words are now numbers! How can we make this "better"?
What if we decided on a way to put words on a line - let's say we ordered words by how much they had to do with animals. Let's say 10 meant it's a very animal-related word, and 0 is very not-animal related. So cat and dog would be 10, and maybe zoo would be 9, and fur could be 8. But something like sweater would be 1 (depending if the sweater was made from animal wool...?)
What now? Well what's cool is that if you assign words on that "animal-ness" line, you can find the words that are "similar" by looking at the numbers that are close. So, words whose value is around 6 are probably similar in meaning. At least, in terms of how much they relate to animals.
That's the core idea. Ordering words by animal-ness is not that useful in the real world, so maybe we can place words on a 2d grid instead of a line. Horizontally, it would go from 0 to 10 (not animal at all - very animal) and vertically, it could be ordered by brightness - 0 for dark, and 10 for bright.
So now, bright animals will congregate together in one part of the grid, and dark non animals will also live close together. For example, a dark frog might be in the bottom right at position (10, 0) - very animal (right end of the x axis) but not bright (bottom of the y axis). Any other word whose position is close to (10, 0) would presumably also be animal-y and dark.
That's really it. The magic is that... this works in thousands of dimensions. Each dimension being some way that "AIs" see words / our world. It's harder to think about what each dimension "is" or represents. But embeddings are really just that - the position in a space with a huge number of dimensions. Just like dark frogs were (10, 0) in our simple example, the word "frog" might be (0.124, 0.51251, 0.61, 0.2362, 0.236236, ..............) as an embedding.
That's it!