Overdubbing is the fundamental multitrack recording technique: record a foundation track (drums, rhythm guitar), then record additional parts (vocals, leads, harmonies) while monitoring the existing tracks. This allows a single musician to build complex arrangements and is the standard workflow for most modern productions.
Technical requirements: an audio interface with direct monitoring (zero-latency), a DAW with low-latency monitoring, and headphones with good isolation (closed-back) to prevent the click track and existing tracks from bleeding into the new recording.