The equation $$f = i(l \times b)$$ describes the magnetic force acting on a current-carrying wire in a magnetic field. In this equation, 'f' represents the force experienced by the wire, 'i' is the current flowing through the wire, 'l' is the length of the wire within the magnetic field, and 'b' symbolizes the magnetic field strength. This relationship highlights how the force depends on both the amount of current and the orientation of the wire with respect to the magnetic field.