Keying alike means setting up several cylinders so that they all open with the same key.
It is what people ask for when they are fed up with carrying a bunch of keys: front door, patio door, gate and storeroom with a single key. There are no levels and no keys that open more than others. Every copy opens every door that is keyed alike.
That is where the difference from master keying lies. In a master keyed system each door has its own key and there are higher level keys that group doors together. With keying alike, all the keys are the same.
Bear one thing in mind: if you lose a key that is keyed alike, every door it opens is exposed. It is worth knowing how many copies there are and who has them. If that is what you need, see keying alike; if you need a hierarchy, see master keying.