I have heard the phrase many times, but I have never understood precisely what it meant.
So I turned to the magic of Google to do some research.
To my surprise, I found a range of meanings. Here is a sample:
"Lock and load" refers to “the procedure used for readying an empty M1 Garand for action, not because he said it backwards.
In order to prepare the weapon for firing, the bolt must first be ‘locked’ back to the rear so that the en bloc clip can be ‘loaded’ into the fixed magazine.
Once the clip is inserted, the bolt snaps forward on its own as soon as thumb pressure is released from the top round of the clip, chambering a round and leaving it ready to fire.”
“Locked and loaded” means “locking the magazine or cartridge into the gun and loading the ammunition into the gun’s chamber.”
“Lock and load” means “lock your safety and load a magazine into your weapon.”
“Lock and load” is “a military command to open the bolt of a machine gun (Lock Open) and load it.”
Urban Dictionary provides a definition that is mildly not safe for work and is in bad taste in any event.
https://www.lawfareblog.com/what-exactly-does-locked-and-loaded-mean