What is the meaning of “Samuel C. Collins Professor”? I would like to know the specific meaning of Samuel C. Collins Professor in the above screenshot. It is a title for MIT faculties or the award with the same name (Samuel C. Collins)? Or something else?
It's a named professorship, which means a couple things.  Generally, endowed chairs are better paid and have some extra funds associated with them.  These are typically funded by a gift to the Institute.  In this case, somebody presumably gave a gift in honor of Prof. Collins, who was a pioneer in low-temperature work.


  Dr. Samuel C. Collins, Professor Emeritus of the Massachusetts Institute of Technology, internationally known as the father of practical helium liquefiers and founder of the MIT Cryogenic Engineering Laboratory, died on June 19, 1984 in George Washington University Hospital, Washington, DC.
  
  In 1946, Dr. Collins and his colleagues at MIT built what became know as the Collins Helium Cryostat. The device provided for the first time reliable, relatively in expensive and adequate supplies of liquid helium. His invention was of great interest to physicists because it opened the door to extensive experimental low-temperature physics


The existence of the endowed professorship is a honor to the memory of the eponymous Samuel Collins, and it is an honor for the current faculty member who holds it.