Genetic variation occurs due to three processes during meiosis: 1) Independent assortment of chromosomes, which randomly distributes maternal and paternal chromosomes to gametes, resulting in 16 possible combinations. 2) Crossing over allows exchange of genetic material between homologous chromosomes, generating recombinant chromosomes. 3) Random fertilization, where a single egg is fertilized by one of millions of possible sperm, combining the genetic variation from both parents. Together, these three sources maximize genetic diversity.