Bitrate, and why a voice needs very little of it
Bitrate is the amount of data stored for every second of audio. The human voice sits between 80 and 3,500 Hz, well below the 20 Hz to 20,000 Hz range a CD must cover; that's why a CD uses 1,411 kbps, while a voice recording works perfectly with a fraction of that figure.
A voice recording at 96 kbps is indistinguishable from one at 320 kbps to the human ear, while taking up a third of the space. Below that, the difference becomes noticeable: at 48 kbps the voice takes on a metallic quality, though it remains intelligible. With background music, the recommended floor rises to 128 kbps.