first of all we have find the object by means of object 
repository if it is not identifying the nature of the 
object we can go for object identification ,even though if 
QTP is not recognising the object we can map the object by 
means of virtual manager wizard.

one is Using Virtual Object wizard Qtp,
Other one is Smart Identification .

QTP does not recognize the object means, you dont have 
proper add-ins. In this case, QTP treats the objects as non-
standard objects. We can map these non-standard objects to 
standard objects by using virtual object wizard. Once 
mapped sucessfully, QTP can identify the objects.

if the qtp does not recognize an object it will go for 
smart identification. we can also use object spy if we want 
to view properties of an object

I think we can go for descriptive programing...

suppose the OK button in Login dialog is not recognised 
then write description of OK button as below

Set MyDescription = Description.Create()
MyDescription("text").Value="OK"
.
.
.
script:
"Login").WinButton(MyDescription).click

If qtp does not recognize the objects then we will go for
smartidentification.

in that qtp uses two types of properties to identify the
objects. 1. Basefilter properties and 2. Option filter
properties.

After enabling smartidentification then also if not identify
the objects then it will go for Ordinal Idetifier.

In Ordinal Identifier it will use three properties to
identify the objects
1.Index
2.Location
3.Creation time (for Browser objects)

1)one is Using Virtual Object wizard Qtp,QTP does not 
recognize the object means, you dont have 
proper add-ins. In this case, QTP treats the objects as non-
standard objects.
2)go with low-level recording.
3)one is Smart Identification .
  
correct me iff i am wrong
mail me:rohitsharma.p81@gmail.com

Steps to handle the non recognised(Or Custom objects) objects
1. Load proper AddIn(for example load web addin to recognise the HTML objects )
2. If then also not recognised, Class mapping (to closet class)

3. If then also not, then try writting some test(wrapper dlls) API's

4. Other wise go for low level recording or mapping to virtual object, but it's not reliable method. Smart identification will be handy only if objects are getting recognised.

Uday Kumar.A answer is correct. I am very sure about it.