Try to implement some tiny little change in the code, something that will be visible to you. That might be figuring out a workable way to output debugging statements (and figuring out where the output appears), it might be changing the default size of windows or desktop color, or something. Once you can make something happen in the codebase, you've scratched the surface of understanding and can begin to move on toward more complicated things. At that point, select a goal of something slightly more useful that you'd like the code to do, and implement that. Or check out the project's bug tracker and look for something small to start with.
Document as you go, and write unit tests as you go, and refactor as you go. When you figure out what a routine does, comment it!!