It is the local user’s own host on a network. A localhost can be accessed by the IP address-127.0.0.1 which is also known as Loopback Address because when the user queries our Network Interface Card about this address on the network, the card replies that it’s our own system.
LPE stands for Local Privilege Escalation. Privilege Escalation means uplifting the privilege one has on the system. After taking the access of the target machine, hackers go for LPE so that they can have more privileges to perform administrative tasks.