I'll do my best!
The Eightfold path is significant for two reasons. The first being that it is the 4th Noble truth - the path to end suffering (think of the Buddha as a kind of doctor, he suggested the teachings as a "cure" to suffering).
The second thing is that it is the "middle path" to a happy life. The Buddha grew up as a prince and led a luxurious lifestyle, but when he started his quest for the end to suffering, he joined the ascetics (group of holy men who deprived their bodies in order to lead a disciplined life of meditation and study). This made him too weak to even meditate, so it didn't bring him to religious truth. After his enlightenment, Buddha said that Nibbana (state of liberation)could be found by living a life that was not too luxurious but not too restrictive.
The Eightfold path a set of personal conduct guidelines that interact together to let you reduce suffering and follow a "middle way" to avoid extreme lifestyles.
They are:
1.Right action - act in a positive manner.
2. Right speech - speak positively and truthfully.
3.right intention - only commit actions that are based on love and compassion.
4. Right effort- work hard to lead a good life.
5. Right concentration - remain in the simplicity of the present moment and do not let your mind wander.
6. Right view - know the truth in your heart.
7. Right mindfullnes- control your thoughts.
Most importantly (in my opinion):
8.Right livelihood - make an honest living that does not involve exploiting others.
I really hope I explained it okay! If you need any more help, don't hesitate to message me