The lock grips in proportion to the pull — so the harder you pull, the more stuck it is
One fact about the mechanism explains the whole page. A cord lock is a wedge sitting in a tapered shell, and the cord drags it towards the narrow end. The narrow end is smaller than the cord, so the wedge presses the cord against the shell, and the harder the cord is pulled the further the wedge is dragged and the harder it grips. This is called self-locking, and it is not a fault — it is the entire design. Without it the blind would fall down the moment you let go.
Which means the state you are in is the state it is built for. Something pulled that cord hard — a child, furniture being moved, a window that caught the blind — and the wedge went deeper than a normal pull takes it. Now every pull you add drives it further in. The release is the opposite direction: push the bottom rail up a couple of centimetres. That takes the tension off the cord, the wedge is no longer being dragged, a weak spring (or gravity, on cheaper locks) walks it back up the taper, and the cord is free again. Then pull gently, straight down, without a snatch.
Notice what that test is doing. It is not a fix, it is a measurement. If lifting the rail frees the cord, then the whole mechanism is intact — the lock, the wheel, the cords and the slats are all working, and you have learned that without taking anything apart. If lifting the rail changes nothing, the cord is being held somewhere else entirely: knotted at a slat, off the wheel, or no longer attached to the blind at all.
Three faults, three places
It frees when you lift the rail is the lock, and it needs no part. Once it runs, set the lock so it grips on a light pull and releases on a lift: most locks have a small screw or a sliding cover that changes how much of the taper the wedge can travel. Do that with the blind at half height, testing as you go, because too loose and the blind creeps down on its own overnight.
It stops at the same height every time, and that height moves with the slats is a knot or a crossing in the cord at one slat. Work the cord slat by slat from the bottom, watching each hole as the blind passes it, and you will see the tangle. Free it with a bent paperclip or a blunt needle — never cut the cord to remove a knot, because a cut cord has to be replaced and the knot does not. Then straighten the slats so the cords run parallel through every hole before you run it.
The cord pulls with no resistance at all, or will not pull and hangs loose is the top of the blind. The cord has come out of the groove of the pulley inside the headrail, so it is binding on the metal edge rather than turning. Take the end cap off — usually one screw or a clip — look in with a torch, and press the cord back into the groove with a flat screwdriver. Then run the blind fully down and fully up to re-tension both sides before you trust it.