Is a programmed formula that the originator of the data uses to encrypt the plain text and the recipient of the data uses to decrypt the cipher text?

Yes, a programmed formula used for encryption and decryption is known as an algorithm. In this context, the originator of the data applies the encryption algorithm to transform plain text into cipher text, while the recipient employs the same or a corresponding decryption algorithm to revert the cipher text back to its original plain text form. This process ensures that only authorized parties can access the readable data.