I believe it's just an issue of grouping. The top right of the graph has 3 icons to group by day, week, or month. It's currently grouping by day. So if I visit your site today and come back tomorrow, I'll be counted once for each day.
I tried looking at the month view for one of my sites but it didn't give me much meaningful data. I believe the above should answer your original confusion though.
Jonathan S.
2009-09-22 16:27:58