Kids, it's called "speech recognition". Voice recognition also exists, but it's the task of identifying a user based on his/her voice, not the task of transcribing spoken input as text.
Dad, I told you not to use my hacker news account. Log out please.
Are there any decent opensource projects out there (preferably with Python APIs) that do speaker or "voice recognition" reasonably well? I know this is an area of active research in academia.