He's Already Talking About A 3Rd Term.
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For more on marking an answer as the "Best Answer", please visit our FAQ.Have a look at this site first, to see how locks work;
http://home.howstuffworks.com/lock-picking4.htm
You will then see that there are a finite number of combinations that would be a function of the number of levers, the number of possible lever pin lengths and their relevant positions.
However, the number of combinations is still sufficiently large, so that the chances of inserting your key into a random lock (even if we all used the exact same make and model) and it opening it are very small..
Similarly, (and assuming a mass marketed product), it would be almost a certainty that there is a lock out there that your key would fit.
To meet BS3621 and have a kitemark there needs to be at least 1000 different keys to a range of locks. This is too many to feasibly try when you consider that there are many manufacturers with many types of lock all with a different set of at least 1000 keys.
A typical Yale cylinder rim lock could have 24000 different keys made before they repeat.