In English:
"^" means - from the beginning of the request URL (no host),
"([_0-9a-zA-Z-]+)" means - look for an _, a number, a letter or a - (if any),
if there is a match, then put that in variable 1
"/" means - after that look for a /,
"([0-9]{4})" means - then look for a four digit number and put that in variable 2
"/?" means - then there may be a /
"([0-9]{1,2})?" means - now look for 1 to 2 digit number (optional) and put that in variable 3
"([0-9]{1,2})?" means - now look for another 1 to 2 digit number (optional) and put that in variable 4
"([_0-9a-zA-Z-]+)?" means - look for some (optional) number/letters/-/_ and put that in variable 5
"([_0-9a-zA-Z-]+)?" means - look for some (optional) numbers and put that in variable 6
The rest says to use variables 1-6 to create the url that will be used to access your wordpress site.