What is the deffinition of convexity defect in image processing?
In simple words, convexity defect is a cavity in an object (blob, contour) segmented out from an image. That means an area that do not belong to the object but located inside of its outer boundary -convex hull (read documentation of cv::convexHull function for details).

The image below shows it better than million of words. Areas between fingers (all marked with arrows) in this schematics of a hand contour are the convexity defects.

 

You can find the defects using OpenCV's function cv::convexityDefects.