Meiosis is a type of cell division that results in four haploid daughter cells which are not genetically identical to each other or the original parent cell. It involves two divisions and the halving of chromosomes. This contributes to genetic variation between offspring through two main processes - independent assortment of homologous chromosomes and crossing over, where parts of homologous chromosomes are exchanged. Mitosis produces two genetically identical daughter cells while meiosis produces four non-identical haploid cells through pairing of homologous chromosomes and genetic recombination during prophase I.