What it means
The encrypted-backup password or 64-digit key decrypts a protected backup. An SMS registration code helps prove control of a phone number when registering the account. Supplying one does not recover the other, and sharing either with a stranger can jeopardize security.
A real-world example
Someone replaces a phone and receives the correct SMS code, then reaches a restore screen asking for an encrypted-backup password that was never saved.
What to do
While old chats are still accessible, record the backup secret safely and check a recent completed backup. During replacement, follow WhatsApp's supported restore flow and never send codes to a purported helper.
The distinction that matters
If you have access to chats on the old phone, WhatsApp offers a password-change path even when the previous password is forgotten. Without chats or the key, WhatsApp says it cannot reset the encrypted backup. The SMS code cannot bypass that encryption.
WhatsApp backup-password guidance