The equation Fe + 3NaOH -> 2Fe(OH)3 + 3Na

1. Detailed information about the equation Fe + 3NaOH -> 2Fe(OH)₃ + 3Na
   This equation indicates a chemical reaction between Iron (Fe) and Sodium Hydroxide (NaOH) to produce Iron (III) Hydroxide (Fe(OH)₃) and Sodium (Na).

2. Reaction conditions
   For the reaction to occur, Iron and Sodium Hydroxide need to come into contact with each other. This is usually accomplished by mixing them together. Moreover, the presence of specific temperature and pressure can also affect the reaction.

3. Reaction process
   In this reaction, Iron and Sodium Hydroxide will interact to create Iron (III) Hydroxide and Sodium. Specifically, Fe₂+ ion in Iron will combine with OH- ion in Sodium Hydroxide to form Iron (III) Hydroxide, while the Na+ ion in Sodium Hydroxide will combine with free electrons to form Sodium.

4. Occurrence phenomena
   When the reaction occurs, you will see a color change due to the formation of Iron (III) Hydroxide, which is of a reddish-brown color. Additionally, you can also observe the decrease in mass of Iron and Sodium Hydroxide, as well as the increase in mass of Sodium and Iron (III) Hydroxide.

Note: This reaction should not be carried out in real conditions because Sodium is a very strong alkali metal, which can cause a strong reaction when in contact with water and oxygen in the air, resulting in fire and explosion phenomena.