Incorrect spelling, explanation: ledgend is an incorrect spelling. There is no d before g in the correct form: legend. Legend comes from Latin legenda, so there is also no d there. In English, it is unnecessary to add it, so legend is the correct form.

Correct spelling, explanation: the word legend is the correct spelling because it comes from legenda (Latin origin). There is no need to add d there in English spelling (no pronunciation or grammar reasons). Therefore legend is the correct form and ledgend is incorrect.

Definition of legend:
noun, a local story regarded as historical but never proven to be true
James told us the legend about the ghost who lives in the old house at the end of the street.
A popular Irish legend says, that St. Patrick got rid of all snakes in Ireland.

Phrases with legend:
urban legend – a story or anecdote based on hearsay that is told as a true one but probably is made up and repeated in many different versions and contexts. Usually scary or very controversial
There are many urban legends on the Internet – it’s hard to know what is true and what’s made up.
a living legend – somebody famous who is considered a genius in their field
Our philosophy professor is awesome, truly a living legend.