There are eight letters. You have seven letters. Six of your letters are correct. One of the letters you have is in the wrong position, meaning you have picked up the wrong one, or gotten it confused somehow. One of your letters is wrong. You are missing a letter.
To put it another way: You have 7 letters. 5/7 are in the correct order within the word you are trying to create. 6/7 are the correct letters.
If you have not created a word, you do not have the right answer.