The fundamental idea is a polynomial of degree n is uniquely described by n+1 points (2 points give a unique line, 3 points a unique parabola, etc). If the polynomial is the data you want to protect, you can pick enough points to describe it redundantly. Then, if a point is lost, as long as there are enough to still uniquely determine the original polynomial, you can recover the original data. And if the points do not all come from the same polynomial (as when the data has been corrupted) you can at least detect this, and you may be able to throw out some of the points to recover.
(Edited to correct that the polynomial is the original message, not some set of points)