In the time of the Temple, the Passover Offering was eaten at the end of the meal so that its taste would linger, signifying honor and importance—just as kings and noblemen eat their most significant dish last. After eating it, nothing else was consumed to preserve its taste in the mouth. Today, since we no longer have the Passover Offering, we are required to eat matzah at the end of the meal as a remembrance of the offering. This is known as the Afikoman.
The Afikoman is wrapped in a cloth and set aside so it is not eaten until the end of the meal. A common Ashkenazi custom is for children to "steal" the Afikoman and demand a gift for its return. However, in Chabad, this practice is not observed. The Rebbe noted the Talmudic teaching, “one who steals from a thief also tastes the taste of theft.” (In other words, association with theft effects the person involved, ed.) Before eating the Afikoman, one should drink as needed to avoid excessive thirst afterward. If one becomes extremely thirsty, some authorities allow drinking water, though it is generally avoided.
Adapted and translated from Sichat HaShevua