Frequency-domain blind source separation (BSS) is shown to be equivalent to two sets of frequency-domain adaptive beamformers (ABFs) under certain conditions. The zero search of the off-diagonal components in the BSS update equation can be viewed as the minimization of the mean square error in the ABFs. The unmixing matrix of the BSS and the filter coefficients of the ABFs converge to the same solution if the two source signals are ideally independent. If they are dependent, this results in a bias for the correct unmixing filter coefficients. Therefore, the performance of the BSS is limited to that of the ABF if the ABF can use exact geometric information. This understanding gives an interpretation of BSS from a physical point of view.