Raw seed is a hexadecimal number derived from the mnemonic phrase. It can also be called a private key. Most of the wallets in the ecosystem provide a mnemonic phrase instead of a raw seed. To restore your account from the raw seed, use Cere Explorer, the web wallet version. The Polkadot{.js} browser extension does not support this feature.

Like the mnemonic phrase, your raw seed gives full access to the account to anyone who knows it. It is not password-protected.