What that mean The farther away we look in distance the further back we look in time?

The statement means that when we observe distant objects in the universe, we are actually seeing them as they were in the past due to the finite speed of light. For example, light from a star that is millions of light-years away takes millions of years to reach us, so we see it as it was millions of years ago, not as it is today. Thus, looking deeper into space allows us to glimpse earlier stages of cosmic history.