Killing text means to delete the text from the line, but to save it away for later use, usually by yanking (re-inserting) it back into the line. (‘Cut’ and ‘paste’ are more recent jargon for ‘kill’ and ‘yank’.)
If the description for a command says that it ‘kills’ text, then you can be sure that you can get the text back in a different (or the same) place later.
When you use a kill command, the text is saved in a kill-ring. Any number of consecutive kills save all of the killed text together, so that when you yank it back, you get it all. The kill ring is not line specific; the text that you killed on a previously typed line is available to be yanked back later, when you are typing another line.
Here is the list of commands for killing text.
Here is how to yank the text back into the line. Yanking means to copy the most-recently-killed text from the kill buffer.