aim54x wrote: it is done in camera, exposing for the backlit subject and disregarding the background (which becomes blown out - hence high key)
Just to further illuminate Cameron's explanation, the background will become overexposed only if it's lit accordingly. Use a plain whit background, throw a light or two (for evenness) at it, and make sure that the power to those lights will blow any highlights on that background.
Expose normally and what you deem to be correct for the primary subject, try to avoid any spill from your background lights, and you should be there.
You can use this technique for portraiture, or for product shoots, or just about anywhere else that you want to play with it.
For extra credit, use a dark background instead of a white one, keep some distance between your subject and background, do not throw any illumination on the background, and see what happens there.