Story of Sage Kashyapa and Takshaka is associated with the curse of King Parikshit. When King Parikshit was cursed that he would die by Takshaka's poison, Sage Kashyapa decided to rescue the king.
Sage Kashyapa started from his ashram and reached halfway. Takshaka met him on the way and bribed him. He sent the sage back laden with presents of gems, ornaments etc.
When people got the news about this, they derided Sage Kashyapa, who on account of covetousness, retreated from the duty of saving the King's life and non-cooperated with him in every way.
To escape from the sins, Kashyapa sought the help of Sage Sakalya, who advised the former to bathe in the sacred tirthas in the Godavari and Sarasvati rivers.
Sage Kashyapa did so and regained his old reputation.