Here's a breakdown:
* "Know it": Indicates understanding and familiarity.
* "Like the back of my hand": A vivid metaphor comparing the level of knowledge to the intimate understanding someone has of their own hand.
Examples:
* "I know this city like the back of my hand. I can get you anywhere you need to go."
* "She knows her job inside and out; she knows it like the back of her hand."
Essentially, it conveys a sense of complete mastery and confident familiarity with something.