More formal:
* Reword: This emphasizes the act of changing the words used while retaining the original meaning.
* Restate: This suggests expressing the same idea in a different way.
* Rephrase: This is similar to "reword" but implies a more concise or clearer expression.
More informal:
* Put in your own words: This is a common phrase used in education and emphasizes the process of understanding and expressing something in a way that is easier for you to grasp.
* Summarize: This focuses on the main points of the original text, while potentially condensing it.
* Explain: This suggests making something clearer or easier to understand, often by providing additional details.
Ultimately, the best synonym for "paraphrase" will depend on the specific situation. Consider the context, the desired level of formality, and the specific nuance you want to convey.