This expression means that it is better to have an advantage or opportunity that is certain than having one that is worth more but is not so certain.
"A bird in the hand," is yours, and it's not going anywhere unless you let it go. But if you leave it and go for "two in the bush," there is no guarantee you'll catch them, you might end up with nothing in the end.
In essence, don't be greedy and stick with what good things you already have, instead of going after something you'll probably never get.
Bob: "I think I'm gonna quit my job..another firm is going to offer me a better job.."
Joe: "Are you sure? You probably shouldn't quit unless you know you're gonna get in for sure. A bird in the hand is worth two in the bush."
(Weeks later)
Joe: "So how was the interview?"
Bob: "Idk not so good...i don't think the boss is gonna let me come back either..."
Joe: "You're an idiot.."
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