In general terms, the state of a classical system can be described by a point in the appropriate phase space. For instance, for a system of N particles, the positions and (conjugate) momenta of each of the particles provides a description of the system.
The vector \left( x_1, x_2, ..., x_N, y_1, y_2, ..., y_N, z_1, z_2, ..., z_N, p_{x1}, p_{x2}, ...p_{xN}, p_{y1}, p_{y2}, ..., p_{yN}, p_{z1}, p_{z2}, ..., p_{zN} \right) is a point in a 6N-dimensional space that identifies the state of this system at some instant of time. As the system evolves over time, it is described by a different point in phase space at each different instant of time. A phase trajectory is simply the path through phase space traced out by the state vector as it passes through these points at different times.