Effect of pressure on the structural stability of iron phosphate glass: Role of trace water

► High‐pressure studies on iron phosphate glasses carried out for the first time. ► The phonons have been followed using Raman and infrared spectroscopy. ► Anhydrous samples retain their amorphous nature up to 24.2 GPa. ► Pressure induced changes in phonons recover on decompression of the glass samples. ► Presence of trace water in the sample leads to devitrification at pressures of 2.5 GPa.