Answer:

Introduction:
Sikkim, a state in the northeastern part of India, is known for its beautiful lakes. Among these lakes, Khecheopalri Lake holds great religious significance and is considered sacred by both Buddhists and Hindus.

Religious Significance:
1. Buddhist Belief: According to Buddhist beliefs, Khecheopalri Lake is considered sacred as it is believed to be the emanation of Tara, the female deity in Tibetan Buddhism. Tara is highly revered by Buddhists as a Bodhisattva, a being who has achieved enlightenment but chooses to remain in the world to help others. The lake is believed to be the footprint of Tara, and her blessings are said to be present here.

2. Hindu Belief: Hindus also consider Khecheopalri Lake to be sacred. They believe that the lake is associated with Goddess Tara, who is revered in Hinduism as well. According to Hindu mythology, Khecheopalri Lake is believed to be the abode of Goddess Tara, and it is considered as one of the 108 sacred lakes mentioned in Hindu scriptures.

Rituals and Practices:
1. Prayer Flags and Offerings: The lake is adorned with colorful prayer flags tied around the surrounding trees, which are believed to carry prayers and blessings to the heavens. Devotees also make offerings of flowers, incense, and butter lamps as a symbol of devotion and to seek blessings from the deities.

2. Circumambulation: Pilgrims perform circumambulation around the lake in a clockwise direction, which is a common practice in both Buddhist and Hindu traditions. This act is considered to be spiritually purifying and is believed to accumulate positive karma.

3. Pilgrimage: Khecheopalri Lake is a popular pilgrimage site for both Buddhists and Hindus. Devotees from different parts of Sikkim and neighboring states visit the lake to seek spiritual solace and offer their prayers.

4. Religious Festivals: Various religious festivals are celebrated at Khecheopalri Lake, attracting a large number of devotees. These festivals include Saga Dawa, which commemorates the birth, enlightenment, and death of Lord Buddha, and Drukpa Tseshi, which celebrates the first teaching given by Lord Buddha.

Conclusion:
Khecheopalri Lake holds immense religious significance for both Buddhists and Hindus. It is a place of deep reverence, where devotees seek blessings from the deities and perform rituals to purify their souls. The coexistence of these two religious beliefs adds to the cultural diversity and harmony of Sikkim.