Refracting is the bending of light as it passes from one medium to another, such as from air into water. This change in speed causes the light to change direction, which is why objects appear distorted when viewed through water. The degree of bending depends on the angle of incidence and the properties of the materials involved.
A common example of refraction is seen with a straw in a glass of water. When you look at the straw, it appears to be broken or bent at the surface of the water due to the light changing direction as it moves from air to water.