For example let's search for "Facebook" in google.
At the top is the title of the website as shown above, below the title is the snippet which contains the description and at the bottom is the URL of the website. The bold texts in the results are query that you submit in the search engine which in this case "Facebook". Search Engines will return relevant information to the query. To do this Search engines will crawl to all the indexed website and look for the meta tags and the content itself. The one that set's up the snippet is the "meta description tag". on the other hand "meta keywords tag" contains keywords pertaining to the web page content and is hidden in the HTML. Keywords are phrases you want your website to be found under. It is now ignored by most search engines due to the abuse of meta keywords by search engine spammers. But still you can use "meta keywords tag" for other search engines. To know more about this visit Keywords is not for Google Search Engine Page Ranking - Review
To put meta tags in your blogspot blog, first log in to your account -> Layout -> Edit HTML -> Under the Edit Template Box, Find <head> tag and insert this code below:
<meta content='YOUR_BLOG_DESCRIPTION' name='description'/>
<meta content='YOUR_BLOG_KEYWORDS' name='keywords'/>
Please note that your keywords can be separated by comma ","