The line (or lines) between the lines beginning <<<<<<<
and ======
here:
<<<<<<< HEAD:file.txt
Hello world
=======
... is what you already had locally - you can tell because HEAD
points to your current branch or commit. The line (or lines) between the lines beginning =======
and >>>>>>>
:
=======
Goodbye
>>>>>>> 77976da35a11db4580b80ae27e8d65caf5208086:file.txt
... is what was introduced by the other (pulled) commit, in this case 77976da35a11
. That is the object name (or "hash", "SHA1sum", etc.) of the commit that was merged into HEAD
. All objects in git, whether they're commits (version), blobs (files), trees (directories) or tags have such an object name, which identifies them uniquely based on their content.