This paper presents the development of an efficient speech recognition system incorporating techniques like Mel Frequency Cepstrum Coefficients (MFCC), Vector Quantization (VQ), and Hidden Markov Model (HMM) for improved speed and accuracy. The proposed model involves both speaker identification and speech recognition, achieving an overall efficiency of 95% in speaker identification and 98% in speech recognition through experimental results. It highlights the importance of reducing inter-speaker variability for enhanced performance in human-machine interaction applications.