Mixing hydrochloric acid (HCl) and sodium hydroxide (NaOH) results in a neutralization reaction that produces sodium chloride (NaCl), commonly known as table salt, and water (H2O). This reaction is a classic example of acid-base chemistry. The discussion highlights the importance of correctly identifying chemical compounds, as the initial query mistakenly referred to HCI instead of HCl. Understanding this reaction is fundamental in chemistry, demonstrating how acids and bases interact. The conversation emphasizes the simplicity and common occurrence of this neutralization process.