Interview Hello World explanation

This classic ioccc entry is a Hello World program written in C. Can anyone please provide an explanation of how it works?

Original code (syntax highlighting intentionally missing):

int i;main(){for(;i["]<i;++i){--i;}"];read('-'-'-',i+++"hell\
o, world!\n",'/'/'/'));}read(j,i,p){write(j/p+p,i---j,i/i);}

Slightly cleaner:

int i;
main()
{
  for ( ; i["]<i;++i){--i;}"]; read('-' - '-', i++ + "hello, world!\n", '/' / '/'));
}

read(j, i, p)
{
  write(j / p + p, i-- - j, i / i);
}