‘Occam’s razor’ is often paraphrased, inaccurately, as: “The simplest explanation is usually the best one”, although this does give the gist of the reasoning.

It actually means that when different explanations are presented to explain the same prediction, and where none can be proven to be untrue, the theory that requires the fewest assumptions should be preferred.

(Personally, I believe that this Razor should be grouped alongside K.I.S.S. (Keep It Simple, Stupid), Hitchens’s razor: That which can be asserted without evidence can be dismissed without evidence, and Alder’s razor (If something cannot be settled by experiment or observation, then it is not worthy of debate).

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