The (very) simplified version is that they convert any verification algorithm $A$ for a language $L \in \text{NP}$ into a circuit.
What they end up with is a circuit $C$ that, given a (binary) string $x$ is satisfiable (i.e. $C(x)=1$) if and only if $x \in L$ (i.e. there exists a certificate $y$ such that $A(x,y) = 1$).
They do this by encoding the working of the algorithm embodied by some Turing Machine (i.e. the transition function) as a circuit $M$. The total circuit $C$ is then a series of concatenations of $M$, where the input values to each iteration of $M$ is a binary encoding of the state of the TM embodying $A$.
As every bit of this (including the number of steps $A$ takes) is polynomially bounded by the size of $x$, the circuit can be constructed in polynomial time.
So what they give overall is a polynomial time way to construct a circuit simulating $A$ set by step that is satisfiable if and only if we can find some certificate that $x \in L$. Then if we could decide in polynomial time if $C$ is satisfiable we'd know that there's some certificate which proves $x \in L$, hence deciding $L$ in polynomial time.