To expand on Nothinman's explanation, .ASP pages are parsed by the web server before they are sent to the user, so the content sent to the user is dynamic. All of the code in the actual ASP page is hidden from the user (unless it's client side stuff) and is used by the server. The code can be vbscript or jscript (possibly others) but vbscript is used most often.
An example of this could be a .ASP file on a server which displays entries from a database. On the server, when a user requests the page, the .ASP file is parsed, and the code to retrieve the data from the server is run, and the output from that code is sent in HTML format to the client, so when you look at the source for the page (view source in your browser) all you see is HTML content, and not the code that was used to generate it.
Hope that helps a little...