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The sacrament of Reconciliation is also known as Penance and Confession, among other names. (There is an explanation of some of these names in the Catechism’s section on the sacrament of Reconciliation.
Although often called Reconciliation in common usage, the term “penance” best describes the essential interior disposition required for this sacrament.
In fact, there is a virtue of penance. This is a supernatural virtue by which we are moved to detest our sins from a motive made known by faith, and with an accompanying purpose of offending God no more and of making satisfaction for our sins. In this sense the word “penance” is synonymous with “penitence” or “repentance.”
Before the time of Christ the virtue of penance was the only means by which people’s sins could be forgiven. Even today, for those outside the Church in good faith, not possessing the sacrament of Penance, it is the only means for forgiveness of sins.
Learn more on the Diocese of Lancaster website