Rileys Freaky Fridays

Your muscles exert the force. The force is applied to the mass of the arm + fist. The fist accelerates( gains speed). The faster the fist is travelling when it reaches its target, the greater the Kinetic energy is has and the bigger the effect will be on the target.
The glove increases the MASS ( not the weight) of the fist, which, for a given force means that the acceleration is less ( its harder to get a big mass moving) and so the speed of the glove over the same distance is reduced. Increasing the mass should increase the Kinetic energy of the striking fist, but reducing the speed has more effect than increasing the mass ( because KE is proportional to V^2 , not just to V ) and so less energy is delivered. Light gloves let you hit harder, because your hands can move faster.
But forces work both ways and a hard smack to the jaw will result in an equally hard smack to the knuckles and if the glove isn’t well padded, then the jaw might well win. But if the glove is well padded then the jaw will be protected as well by having the force spread out over a longer time ( reduces the force for a given impulse ) and spread out over a bigger area, reducing pressure on the target.
I’m sure there is more but I can’t think right now - there must be other places you find this stuff. Good luck