이해 is a noun meaning understanding
이해하다 is a verb meaning understand
I guess you know 이해 is from Sino-Chinese 理解.
Unlike Chinese, a noun word can be a verb by adding 하다 in Korean.
이해하다 -> 이해했다 added past tense suffix (았,었)
-> 이해했어요 added honorific suffix (요)
In a conversation in Korean, subject "I" is mostly omitted.