A PDF file stores a sequence of instructions for what do draw on a page. The instructions are commands, such as "write this text here" or "draw a circle there." When you draw black redaction boxes, you are just appending an instruction to the end of the list ("draw a box here"), but most of the time the previous instructions are all still there.
Really, the only way to redact a PDF with certainty, short of manually reading the file itself (yes, PDF files are text-readable; you just have to decompress them) is to rasterize the file to a large image. Otherwise, the instructions for writing the text are all still in the file, and there are any number of ways to extract them (for example, simply by deleting the instruction to draw the redaction box).