when you enter wrong passcode many time than your iphone will be disabled locked. and only option available is restore iphone with recent backup. so you wont lost much data.
Below trick is working with ipod you can try it with iphone and at the end of the post i have given detail procedure for how to restore iphone without deleting data.
First try to recover your password for that connect your iphone to computer via usb cable.
Now ipod iphone is recognize by computer and find the folder named ipod. Now browse ipod folder and open ipod_control folder , inside that folder there is ipod _unlock file. Try to edit that file with some software to recover your password inside that file otherwise. Delete or rename that file and power of your ipod and restart it. There is other way to recover password but when I put such answer my answer marked as spam and deleted and some senior member using that answer method for their answer and get reputation.
Ipod got disabled when you have entered wrong passcode many times. And to unlock this passcode either recover your passcode from ipod or restore your ipod via ituens.
For that connect ipod to computer and if ipod is recognized by computer then open itunes click on device tab then summary tab on right side pane you will find restore ipod.Click on restore ipod and ipod will be restored but this will erase all data on ipod.
If you don't want to delete data then there is option to restore ipod from backup. So restore ipod from recent backup. For that open itunes - click on devices and right click on ipod there you will find option restore from backup.
If none of above method can solve your problem then enter into dfu or recovery mode. For that connect your ipod via usb cable to computer and thenPower off your ipod, now press and hold power button and home button for 15 seconds, now release power buttonbut keep holding home button now itunes will detect ipod in recovery mode now restore your ipod. Ipad iphone restore without losing data