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Occam's razor (sometimes spelled Ockham's razor) is a principle attributed to the 14th-century English logician and Franciscan friar William of Ockham. The principle states that the explanation of any phenomenon should make as few assumptions as possible, eliminating, or "shaving off," those that make no difference in the observable predictions of the explanatory hypothesis or theory. The principle is often expressed in Latin as the lex parsimoniae ("law of parsimony" or "law of succinctness"):

entia non sunt multiplicanda praeter necessitatem,

which translates to:

entities should not be multiplied beyond necessity.

This is often paraphrased as "All things being equal, the simplest solution tends to be the best one." In other words, when multiple competing theories are equal in other respects, the principle recommends selecting the theory that introduces the fewest assumptions and postulates the fewest hypothetical entities. It is in this sense that Occam's razor is usually understood.

Originally a tenet of the reductionist philosophy of nominalism, it is more often taken today as a heuristic maxim that advises economy, parsimony, or simplicity in scientific theories.

Achem Razor

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There is no legend or myth behind this story. The correct spelling for this is Occams Razor, and was first introduced by a 14th century english logician, which basically stated that when all avenues of understanding are spent, that the simplest solution would thereby be the correct one. This is what some would call flat earth logic. Although the reasoning is sound, there are too many venues which science has uncovered today to put this theory in practice. Try googling it and see what you come up with. You might just find the theory to work.

I think it's named after a person called Achem who said if there are two ways of doing something, one difficult and the other simple, then the simplest is the most correct.

It's occam's Razor

It's Occam's razor:

http://en.wikipedia.org/wiki/Occam's_Razor