I assume you are referring to the identity of the divisor function
$$\sigma (n) = \displaystyle\prod_{i=1}^r\frac{p_i^{\alpha_i+1}-1}{p_i-1}$$
where $n = p_1^{\alpha_1} p_2^{\alpha_2} \dots p_r^{\alpha_r}$.
This is derived by showing that $\sigma$ is multiplicative and that the sum of the divisors of a prime power $p^k$ is the sum $1 + p + p^2 + \dots + p^k = \frac{p^{k+1}-1}{p-1}$.
To show $\sigma$ is multiplicative, let $a, b \in \mathbb{N}$, with $\gcd(a,b)=1$. Since any prime that divides $ab$ must divide either $a$ or $b$, as they share no common factors, the sum of divisors of $ab$ must be exactly the sum of the divisors of $a$ multiplied with the sum of the divisors of $b$, as the product of any divisor of $a$ and any divisor of $b$ must also be a unique divisor of $ab$ (see Arturo's answer for a more complete proof). Thus $\sigma(ab) = \sigma(a)\sigma(b)$.
Since any two primes are coprime, you can decompose $\sigma(n)$ into $\displaystyle\prod_{i=1}^r \sigma(p_i^{\alpha_i})$, and use the hint I mentioned earlier.