"Staccato" is an Italian word meaning "detached" or "separated". In music, it means the players are to play the notes with the slightest rest between them so as to create a contrast with legato playing, or to designate a special dry effect.
The most often used sign for staccato playing is a dot which appears on the note to be played. Of course, playing staccato means shortening a given note in order to create this special effect.