“In Jewish tradition there are two meanings to the word adam, man:
The first comes from the word adamah, earth, defining his physical existence; according to this meaning, the three letters of the Hebrew word adam – aleph, dalet, mem – stand for efer (ash), dam (blood) and marah (bile).
The second meaning sees the word adam as derived from the phrase edame la’elyon – ‘I resemble the Supernal One,’ man in God’s image (Genesis 1:27).
The word ‘image’ can be taken almost literally.
From an essay, “Man of Light” by Rabbi Adin Steinsaltz