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1.
a word used in conjunction with s&m, consensual torture, bondage, etc - so that when you say "no" or "stop" in the heat of the moment, the other person can disregard it - the safety word is the serious-i-mean-it-now time-to-stop word. usually something ridiculus like Alabama.
"Why did Jesus die on the cross? Because he forgot his safety word."
by Lulu February 09, 2005
 
2.
term used in bondage play with one or more partners which lets the partners know that play needs to stop or slow down immediately. A safety word can be any word a person desires, all partners should know everyone's safety words before starting play.
Her safety word was 'ballet', I tightened my grip on her throat and watched for the movement of her lips to tell me she'd had enough.
by Dezmene May 17, 2006