Like solo looting, the drops are retrieved by directly looting the corpse of the boss, with the chat logs showing who's won something. Mounts can also be won via this method from bosses that drop them. Under personal loot, the game chooses a number of players (based on group size) and awards them a random item for their spec, while everyone else receives an amount of gold specific to them. Introduced in Mists of Pandaria, Personal loot is the default for all group content. You can return and loot the corpse of any remaining items until it disappears. For Bind on Pickup items, you will be prompted to accept the item, binding it to you, or turn it down, leaving it in the corpse. (If the loot window is empty, this normally indicates a bug, as corpses that have no loot on them simply cannot be right-clicked.) Using Shift-right/Command-click 'autoloots' the corpse, which picks up all items except ' Bind on Pickup' items. Simply right-click (or Command-click on a Mac with 1-button mouse) on the corpse of the mob you just killed, and a window will pop up containing any loot the mob was carrying. When soloing, looting is easy - a 'lootable' corpse emits a 'glittering' effect, and the cursor will change to the 'trade' cursor when you mouse over the corpse.
