Premiere Pro has a speech-to-text feature powered by Adobe Sensei. This helps you easily generate transcriptions or captions for your video.

The captions are imported into your timeline on a subtitle track that functions similar to any other video or audio track. You can stylize the look of the captions using the Essential Graphics panel, as well as trim the duration and edit the text. You can also export captioning files, such as .SRT.

Watch my short tutorial video to see how easy it is: