In algebraic geometry, a generic point P of an algebraic variety X is, roughly speaking, a point at which all generic properties are true, a generic property being a property which is true for almost every point.
In classical algebraic geometry, a generic point of an affine or projective algebraic variety of dimension d is a point such that the field generated by its coordinates has the transcendence degree d over the field generated by the coefficients of the equations of the variety.
In scheme theory, the spectrum of an integral domain has a unique generic point, which is the minimal prime ideal. As the closure of this point for the Zariski topology is the whole spectrum, the definition has been extended to general topology, where a generic point of a topological space X is a point whose closure is X.
A generic point of the topological space X is a point P whose closure is all of X, that is, a point that is dense in X.
The terminology arises from the case of the Zariski topology of algebraic varieties. For example having a generic point is a criterion to be an irreducible set.
In the foundational approach of André Weil, developed in his Foundations of Algebraic Geometry, generic points played an important role, but were handled in a different manner. For an algebraic variety V over a field K, generic points of V were a whole class of points of V taking values in a universal domain Ω, an algebraically closed field containing K but also an infinite supply of fresh indeterminates. This approach worked, without any need to deal directly with the topology of V (K-Zariski topology, that is), because the specializations could all be discussed at the field level (as in the valuation theory approach to algebraic geometry, popular in the 1930s).