44.1kHz is the
sample rate: 44,100 samples per second (maximum frequency is
half the sample rate)
24bit is the
bit depth: each sample is represented as a 24-bit integer
WAV is the recording format: recording will create WAV files
2/2ch are the number of input/output channels
192spls is the block size (also called the buffer size): groups of 192 samples must be computed in under 4 milliseconds (192spls ÷ 44.1kHz)
9.9ms/9.9ms is the reported input/output latency
ASIO is the current audio system: what's used to communicate with the sound hardware
0.4%/2.2% is the CPU usage of the selected FX/all effects in the chain
802/1152spls is the compensated latency of the selected FX/all effects in the chain