bracketing means that you just manually adjust the exposure of the picture. Lets say you are taking a picture and the camera is telling you that
You are picking a 1/500th shutter speed for example, and the camera is
picking a f8 aperture for example (In a case where you are shooting in shutter priority.
Well now you take one picture at the camera's recommended setting, AND ALSO, you manually adjust the aperture to f5.6 (to overexpose)
and take the picture at f5.6 with the same 1.500th shutter, AND ALSO
you then Manually adjust the exposure to f`11 and keep the shutter at 1/500th....hence underexposing the image
So now you have 3 pictures. One taken at the cameras recommended setting, One picture is underexposed by what is called ONE STOP
and the other is Overexposed by what is called ONE STOP.
The theory is that the camera's internal light meter which it used to suggest a recommended exposure is often fooled by environmental factors. Thus, by taking three pictures at different exposures, you are likely to have at least one turn out pretty good.
Most camera actually have an exposure compensation dial which will allow you to either overexpose or underexpose the image by as much as 2-3 STOPS.