Obviously, I understand the Labor Theory of Value is a fundamental part of most socialist economics, but I'm not quite sure I understand it. I know it makes a distinction between use-value and exchange-value, and I know it's based upon some form of value originating from labor, but that's about it.

However, most explanations for it, including the one in this FAQ in Capital, throw several terms around without further explaining them and generally make the content of the explanation too long for my short attention span (consequence of being an introverted computerite). Could someone explain it in a concise yet comprehensive way, preferably with relatable analogies?