Login and FormsAuthentication

Can someone explain to me in very lay terms what each line of this code is actually doing (including all the comma-seperated variables).  I'm using it in my login and it works, but I'd actually like to know what is going on.

FormsAuthentication.Initialize()
                                       Dim isPersistent As Boolean = True
                    Dim ticket As FormsAuthenticationTicket = New FormsAuthenticationTicket(1, strUserName.Text, DateTime.Now, DateTime.Now.AddHours(1), isPersistent, strUserName.Text, FormsAuthentication.FormsCookiePath)
                    Dim hash As String = FormsAuthentication.Encrypt(ticket)
                    Dim cookie As HttpCookie = New HttpCookie(FormsAuthentication.FormsCookieName, hash)
                    FormsAuthentication.RedirectFromLoginPage("default.aspx", False)

Thanks