Record time was the shortest amount of time in which a feat had been accomplished.

Nyota Uhura used to run the hundred in record time. (TAS: "The Slaver Weapon")

In 2287, after timing fellow vacationer James T. Kirk, Spock informed him that he had not even come close to breaking the record time for free-climbing El Capitan. Kirk assured him that he wasn't trying to break a record, just climb for fun. (Star Trek V: The Final Frontier)