General understatements:
* Downplaying: This is a general term for making something seem less important than it really is.
* Minimizing: Similar to downplaying, but emphasizes reducing the significance of something.
* Understating: This is the most direct way to describe the act of understatement.
* Playing it down: This is a more informal way of saying "downplaying."
More specific understatements:
* Modesty: This implies a deliberate attempt to avoid boasting or exaggerating.
* Self-effacement: This suggests that the speaker is intentionally making themselves seem less important.
* Underselling: This is used when someone is intentionally not emphasizing the positive aspects of something.
Figurative language:
* Putting it mildly: This is a phrase used to emphasize that something is actually much more significant than what is being said.
* Underselling the story: This is a more metaphorical way of saying that the true importance of something is being hidden.
The best word to use will depend on the specific context and the effect you want to achieve.