A pre-2000 term for someone you correspond with through e-mail and electronic messages over the Internet after meeting them through an Internet forum or other online service.
Bob: Hey Alice, I just got a new Key pal online!
Alice: Wow! Where is your time machine?
Marty: This synopsis for the movie "You've Got Mail" has the word "Key pal"
John: Well, it is from 1999.
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The key pal is the new age incarnation of a pen pal. Instead of the traditional pen and paper communication key pals will use email to communicate. This usually results in a lot higher volumes of correspondence.
Computer: "You have new mail."
Nosey friend: "Hey Bob, who's Alice?"
Bob: "Don't read my email!"
Nosey Friend: "But who's Alice?"
Bob: "It's just my key pal."
Nosey friend: "haha, you're sad!"
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The key to arm Metal Gear Rex.
Liquid is trying to get you to give him/her the PAL key, that's why he/she really wants the key.