"Live and learn" is a common idiomatic expression that means to gain knowledge and wisdom through experience. It suggests that making mistakes and experiencing failures are a natural part of life, and that these experiences can ultimately lead to personal growth and development.

The phrase can also be interpreted as a reminder to be open-minded and receptive to new ideas and perspectives, as learning is a lifelong process that never truly ends. By staying curious and continually seeking knowledge, one can continuously improve themselves and their understanding of the world around them.