Wasn't that Jody Foster in "First Contact" I think the name of the movies was that made that phrase famous, at least recently.
That sounds right. We say it a lot in medicine, meaning if the simplest solution is the best, one should always choose a single diagnosis that explains all the symptoms, rather than believe there are multiple problems going on.
That is usually correct, though I actually published a case of an infant with unexpected multiple diagnoses and my last line was: "in this case, Occam's Razor was dull."