Word of Recall states:
Word of recall teleports you instantly back to your sanctuary when the word is uttered. You must designate the sanctuary when you prepare the spell, and it must be a very familiar place.
How exactly is the sanctuary designated? Can I designate the sanctuary whenever I prepare the spell (potentially a new location every day)? Having gained a level (and the ability to cast it) while in this dungeon, can I designate a sanctuary outside and port out, only to port back in the next day (since I am familiar with where I just left)?
I feel like this is basically the same as teleport, only without the chance of failure and requiring more familiarity in destination.