As I am sure you can imagine, there are so many ways of understanding these verses where each word is laden with meaning. The key here is that man was created once, but we are told about it twice, once as part of the Six Days of Creation, and once again. Why is this?

Rabbeinu Bachya explains that each narrative deals with an entirely different aspect of man. The first deals with an animal called man, and the second tells about the reflection of G‑d called man.

The telling in chapter one follows the creation of the rest of the world, and tells of the man who was created after all the other animals. This man is like the other elements of creation, just a bit better. His purpose is to live and prosper at the helm of the planet. To this man, G‑d said, "Be fruitful and multiply…and rule over the fish of the sea and over the fowl of the sky and over all the beasts that tread upon the earth (Gen. 1:28)."

On the other hand, the creation of chapter two deals with the G‑dly soul of man—something that is entirely above and beyond the rest of creation. About this soul we read, "...and He breathed into his nostrils the soul of life, and man became a living soul (Gen. 2:7)."