What the hash string contains
A valid bcrypt hash is one 60-character string: a version marker ($2a$, $2b$ or $2y$), a two-digit cost, then 53 characters of bcrypt's base64 encoding holding a 16-byte random salt and a 23-byte digest. The digest comes from expanding the password and salt through 2^cost rounds of the Blowfish key schedule. The verify mode reads the version, cost and salt out of the pasted hash and recomputes the digest.