Initialization Vector (IV)
An initialization vector (IV) is a block of bits that is used by several modes to randomize the encryption and hence to produce distinct ciphertexts even if the same plaintext is encrypted multiple times, without the need for a slower re-keying process.
An initialization vector has different security requirements than a key, so the IV usually does not need to be secret. However, in most cases, it is important that an initialization vector is never reused under the same key. For CBC and CFB, reusing an IV leaks some information about the first block of plaintext, and about any common prefix shared by the two messages. For OFB and CTR, reusing an IV completely destroys security. In CBC mode, the IV must, in addition, be unpredictable at encryption time; in particular, the (previously) common practice of re-using the last ciphertext block of a message as the IV for the next message is insecure (for example, this method was used by SSL 2.0). If an attacker knows the IV (or the previous block of ciphertext) before he specifies the next plaintext, he can check his guess about plaintext of some block that was encrypted with the same key before (this is known as the TLS CBC IV attack).
As a special case, if the plaintexts are always small enough to fit into a single block (with no padding), then with some modes (ECB, CBC, PCBC), re-using an IV will leak only whether two plaintexts are equal. This can be useful in cases where one wishes to be able to test for equality without decrypting or separately storing a hash.
Read more about this topic: Block Cipher Modes Of Operation