EDIT: Turns out, I totally misunderstood your question. It's 1 bit DSD you where talking about (thanks Kibibu for pointing that out). So my answer is totally void. I'll leave it here, just in case anyone else got confused.
Old and wrong answer:
Do you maybe mean 32-bit on field recorders? 1-bit is extremely low and would mean the resolution of the sound is very bad (or great if you're into chip music). The higher the bit depth, the higher the signal to noise ratio and the better the dynamic range. So if we record at 24 bit, we can record a little softer (safer to avoid clipping) and then bring it up in post without increasing too much noise.
Sample Rate is time based, and means how many times per second will the sound be sampled or recorded onto the recorder (eg: 96000 times/second or 96kHz). In the 'real' world, sound is continuous but digital processes information in chunks. To digitize the sound, it needs to be changed into discrete-time signal, these chunks of sounds give the illusion of a continuous signal, this is much like film running through a camera - this process is called quantization.
Bit depth is the resolution of your recording. In other words, how many bits are recorded per sample. If our sample rate is 48000/sec (48kHz) and our bit depth is 24-bit, then 1/48000th of a second is one sample and each one of these samples has got 24 bits of information.
Does this make sense? Or is it even more confusing? I know I didn't answer your question at all, but if you meant 32-bit, then I'm pretty sure we will soon have it on our recorders.
If you want to hear what 1-bit sounds like, check out this little 1-bit synth I made at a handmade music event.