Scripture Foundation:

“Then God said, “Let Us make man in Our image, according to Our likeness, so that they will have dominion over the fish of the sea and over the birds of the sky and over the cattle and over all the earth and over every creeping thing that creeps on the earth.” And God created man in His own image, in the image of God He created him; male and female He created them. God blessed them, and God said to them, “Be fruitful and multiply, and fill the earth, and subdue it; and have dominion over the fish of the sea and over the birds of the sky and over every living thing that creeps on the earth.” Then God said, “Behold, I have given to you every plant yielding seed that is on the surface of all the earth, and every tree which has the fruit of the tree yielding seed; it shall be food for you; and to every beast of the earth and to every bird of the sky and to everything that creeps on the earth which has life, I have given every green plant for food”; and it was so.”
Genesis 1:26-30 LSB
https://bible.com/bible/3345/gen.1.26-30.LSB

Tselem (Image):
This word, translated as "image," often implies a physical representation or outward form. It can refer to a statue, idol, or any physical depiction. In Genesis 1:26, it suggests that humans are created with a form that reflects God's nature, a kind of outward representation of the divine. 

Demuth (Likeness):
This word, translated as "likeness," implies a resemblance or similarity, but not necessarily an exact copy. It can refer to a functional resemblance, suggesting how humans are meant to act or reflect God's character in their interactions and roles in the world. Some interpretations suggest that "likeness" refers to a moral or spiritual resemblance, something that was lost or marred by the fall. 

Let us make
nǎ·ʿǎśě(h)ʹ make, manufacture; do
CDWGTHB do; make; accomplish; advance; appoint; apt; be at; become; bear; bestow; bring forth; bruise; be busy; certainly; have the charge of; commit; deal; with; deck

Man
אָדָ֛ם ʾā·ḏāmʹ man; mankind
CDWGTHB ruddy; human being; mankind; another; hypocrite; common sort

Image
צַלְמֵ֖ ṣǎl·mēʹ statue, inscribed column; idol; image, figure, replica, likeness
CDWGTHB shade; phantom; illusion; resemblance; figure; idol; image; vain shew

Likeness
דְמוּת ḏemûṯ model; shape; likeness
CDWGTHB resemblance; model; shape; like; fashion; like (-ness; as), manner

Male
זָכָ֥ר zā·ḵārʹ man, male person; male animal, ram
CDWGTHB remembered; male; him; man (child, -kind)

Female
נְקֵבָ֖ה neqē·ḇā(h)ʹ woman, female
CDWGTHB female

Fill
מִלְא֥וּ mil·ʾûʹ be full; fill; consecrate as a priest, devote; fulfill, carry out; set, mount

Subdue
כִבְשֻׁ֑ ḵiḇ·šǔʹ subjugate; violate
CDWGTHB tread; disregard; conquer; subjugate; violate; bring into bondage; force; keep under

Have dominion
רְד֞וּ reḏûʹ tread; rule
CDWGTHB tread; subjugate; crumble; (come to, make to) have dominion; prevail against; reign

Good
ט֖וֹב ṭôḇʹ good; merry, pleasant, desirable; in order, usable; efficient; friendly, kind; morally good
CDWGTHB be; do; make; good; well; be (do) better; cheer; be (do, seem) good, (make) goodly,

Very
מְאֹ֑ד meʾōḏʹ strength, power; very
CDWGTHB vehemence; vehemently; wholly; speedily; diligently; especially; exceeding; far; fast

Day
י֥וֹם yômʹ day; daylight
CDWGTHB be hot; day; warm; age; always; chronicles; continually (-ance); daily; ([birth-], each

Key Takeaways:

Humans were made to represent G-D internally (demuth) and externally (tselem). G-D blessed them, and said to them, “Be fruitful and multiply, and fill the earth, and subdue it; and have dominion over the fish of the sea and over the birds of the sky and over every living thing that creeps on the earth.” The order here is important. The first thing He did is bless us by providing the structure of purpose issued in a command or overarching rule. He provided the guidelines by which our existence, as humans on earth, would be governed.

The structure of the command follows:

“Be fruitful and multiply” - we are meant to be productive and to increase in number and stature. We are not meant to be idle and stagnant.

“and fill the earth, and subdue it” - We are meant to subjugate and conquer creation with the devotion and care similar to a priest carrying out their duties with dedication, diligence and gravity. Notice here that creation is defined in the next phrase; His intent was not for us to subdue and conquer each other, considering that we, out of all created things, were made in His likeness and image. This indicates our particular and specific purpose in His plan.

“and have dominion over the fish of the sea and over the birds of the sky ad over every living thing that creeps on the earth.” - The limitations of what we can and should exert ourselves over, is clearly defined here, namely creation, not other humans. We were meant to work together, male and female, in the overall governing, ordering and subjugating of creation.