There's a good breakdown on the whole thing here: https://www.theguardian.com/australia-news/2023/oct/13/what-is-the-indigenous-voice-to-parliament-australia-when-referendum-2023-explained-yes-no-campaign-wording

The recognition aspect was basically the creation of an advisory body to the government with members selected from indigenous groups. The idea being that the govt has historically poorly managed indigenous issues so by having them directly advising govt there should be better policy outcomes