BIP39 is the most commonly used seed phrase standard. In simpler words, seed phrases are associated with wallet software and comprise a list of words taken from a dictionary, with each word assigned to a number.
The English-language wordlist for the BIP39 standard has 2048 words. So, if we suppose that the phrase contains only 12 random words, the number of possible combinations would be 2048¹² = 2¹³² and the phrase would have 132 bits of security. However, some of the data in a BIP39 phrase is not random, so the actual security of a 12-word BIP39 seed phrase is only 128 bits.
This is approximately the same strength as all Bitcoin private keys. Therefore, most experts consider it to be sufficiently secure.
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