Threshold, ratio, attack and release
The threshold is the level above which compression starts, and the ratio is how firmly it acts: 2:1 is gentle, 4:1 is standard for speech, and 8:1 or higher is heavy-handed. Attack sets how fast it responds — fast attack catches sharp consonants but can dull the front of words, slow attack preserves punch and lets more through. Release sets how quickly it recovers; too fast and you hear the background level pumping up and down between phrases, too slow and it never lets go. For dialogue, a moderate ratio with a medium attack and release is a safe starting point.