Speech or voice recognition is the ability of a machine or program to recognize and carry out voice commands or take dictation.

In general, speech recognition involves the ability to match a voice pattern against a provided or acquired vocabulary. Currently, full dictation speech recognition programs are 'user dependent'  meaning that each user is required to train their voice on the system, or enroll through training so that the computer recognizes their own specific, unique speech patterns, pronunciations and intonations.  Programs normally provide a large built-in vocabulary which can be modified and developed further depending on each individual users speech patterns, frequently used words and language. Dragon Systems and IBM are two companies that have led in the research and development of products that support speech recognition.

January 2005
A General Survey of SPEECH RECOGNITION PROGRAMS  (December 2004)   -  A good overview of the current status of speech recognition programs.

NaturallySpeaking 8 New York Times Video Review
 

PC: The two main programs available for the PC are: 

Take a look at a detailed review of Dragon Naturally Speaking version 8.

Mac:  2 programs available:  

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