刑 is built from the 开 (open (simplified form)) and 刂 (knife (right)) components.
It belongs to a phonetic family with 形 and 型 — they share the 开 component and the reading ケイ.
A common word using 刑 is 刑事 (けいじ), meaning “criminal case, (police) detective”.
Kanji that look similar include 形 and 併.