The term 'Wear Down Bit by Bit' can be summarized by the word 'ERODE', which has five letters. Erosion is a natural process that occurs when wind, water, and other elements wear away at the surface of the earth. It can also refer to the gradual wearing away of something due to constant exposure to a certain element or force. In this case, the term 'Wear Down Bit by Bit' is referring to the gradual erosion of something over time.