Tags
Tag is a reference name give to any GameObject in the game. In our game, player controls the spaceship so I have assigned the tag "Player" to it. Tags are useful when using Trigger Events.
We can define the tag names of the colliding objects and make a decision statement in the script.
Player Tag
Tags in Unity
Normally, there are default tags in Unity which can be used to tag our game objects. However, we can also add new tags as per requirement in the game. To do so, select any game object in the hierarchy, go to Inspector window and click on the drop down menu of Tag and Select "Add Tag".
This will open a Tags & Layers window, where you can click on the "+" button and add new tags. In this game, I added two new tags, "Asteroid" and "Laser".
NOTE: Be cautious that, even if you have selected a game object and clicked Add Tag, the tag that was created will not be automatically added to that game object. You will have to go back to the game object again, go to inspector window, Tag --> and add a tag you would like for that object.