Before you can balance a redox equation, you must be fluent in the little symbols the parent note tosses around: e−, H+, superscripts like Fe2+, arrows, oxidation numbers, and the words oxidation and reduction. We build each one from nothing.
The whole story of redox is about the electrons — the light, movable, negatively-charged pieces on the outside. Protons stay locked in the nucleus; electrons are the "marbles" that get passed around.
Now that "losing electrons" has a picture, the two central words are easy.
Look at the figure: the yellow arrow carries electrons off the atom on the left (its charge climbs +2→+3 — oxidation), and those very electrons land on the atom on the right (its charge falls — reduction). The same electrons. That is why the two events are inseparable: you cannot give without someone taking.
Real molecules like MnO4− do not have a tidy charge sitting on each atom, so Method 2 of the parent needs an accounting device.
You will learn the full rule table in Oxidation states / oxidation number rules; here you only need what it is for: it lets us say "Mn is +7 inside MnO4−" even though no atom literally carries +7.
→ — the reaction arrow: "reactants (left) turn into products (right)."
A coefficient is the big number in front of a formula, e.g. the 5 in 5Fe2+: it means "five of these units." Coefficients are the only thing you are allowed to change while balancing — never subscripts (that would change the substance).
Δ ("delta") means change = (after) − (before). For copper going 0→+2, Δ=+2: it lost 2 electrons.
These are the "spare parts" the solvent (water) supplies. The reaction happens in water, so water pieces are always available even when the skeleton doesn't show them.
H2O — a water molecule; used to supply/absorb oxygen atoms.
H+ — a bare proton from an acidic solution; used to supply/absorb hydrogen.
OH− — hydroxide, the marker of a basic solution; charge −1.
Because oxidation and reduction are two sides of one electron handover, we can put each on its own sheet, balance it fully (atoms and charge, using H2O, H+, e−), then scale so the electrons cancel when the two sheets are added. That scaling uses the smallest common multiple of the electron counts — a plain mole-ratio idea.
Every arrow above is a "you need this before that." The whole tree feeds the parent topic Balancing redox equations and connects to Oxidizing and reducing agents and Electrochemical cells & standard electrode potentials downstream.