Newbie: Explain ITEM, PROJECT and END PRODUCT to me as if I were 5 yrs old

Good morning, I have just subscribed to envato. First I’ve created some collections of stock footage, sounds, music and Final Cut Pro add ons I might use.
Then I tried to download stock footage (or anything else) and I am required to name a PROJECT. Unfortunately the FAQs raise even more questions than the answer.

So here is my background: I’m a travel vlogger on YouTube and X. My assumption was (!) that I can use sounds, music and stock footage for those platforms for free (hence the subcription obviously).
I know what an ITEM is. That’s crystal clear. But what is a PROJECT, what is the ENDPRODUCT and how do I work with all of this when uploading the video to my YouTube channel?

Thanks in advance!

Think about Project as the working period/process and end-product is the result ( final file )

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So the name of the PROJECT is irrelevant.
Can ITEMs in a PROJECT be used in multiple ENDPRODUCTS?

What do I have to add in the description on YouTube to address any copyright claims?

As long as you get new license, yes.

For example, if you create a license for ITEM 1, for PROJECT 1, You can use the ITEM 1 for the END-PRODUCT 1 but if you want to use the ITEM 1 for the PROJECT 2, you can only use to create a new license then you could use it for END PRODUCT 2

Simplest, 1 license = 1 end-product.

Save the details ( purchase codes, item URLS, etc ) for the end-product locally on your computer, when/if it’s asked you can provide the details.

thank you.

Last question: I’ve read in the FAQ that music can only be used on a private YouTube (story) channel. This wouldn’t make any sense, because with this setting I wouldn’t need a license anyhow!
Bottom line, can I use music on a public YouTube channel?

You still would need.

Check the terms/policy page at Elements or contact support for details.