Note that $2^{20}=16\cdot 2^{16}=1\,048\,576$ is pretty darn close to one million, so $n=2^{16}$ is pretty close to the answer. Also note that decreasing $n$ by a relatively small amount won't make a big change to $\log_2(n)$. We want a result that's $48\,576$ smaller, we can as a first attempt just reduce our $n$ by $48\,576/16=3036$ and see what we get:
$$
\log_2(2^{16}-3036)\cdot(2^{16}-3036)\approx 995\,723
$$
which is only $4277$ away. We missed because of course $\log_2(2^{16}-3036)\approx 15.93$ is a little smaller than $16$.
However, we can now repeat this process, noting that increasing $n$ by $4277/15.93\approx 268$ ought to give us an even better result, this time missing only overshooting by 380.
There is a better method, though, which in a much better way encompasses how also the logarithm changes: use the derivative. Differentiating $f(n)=n\log_2(n)$, we get
$$
f'(n)=\log_2(n)+\frac1{\ln(2)}
$$
We only used the first term when deciding to decrease $n$ by $3036$ the first time. However, using the full derivative, we're told to decrease $n$ by $48\,576/(16+1/\ln2)\approx 2785$. Let's see where this takes us:
$$
\log_2(2^{16}-2785)(2^{16}-2785)\approx 1\,000\,085
$$
and look how close we got immediately, compared to the previous attempt, just by adding $\frac1{\ln2}$. One more iteration ought to do it. Next we will decrease $n$ by $85/f'(2^{16}-2785)\approx4.9$, and this gives us
$$
\log_2(2^{16}-2789.9)(2^{16}-2789.9)\approx999\,999.5
$$
and I daresay we clearly can't find a better integer approximation to the solution than $2^{16}-2790=62\,746$.
This is called Newton's method, and it works remarkably well when you have a decent guess to start with. It is a widely used algorithm for numerical solution of equations because of its simplicity and efficiency.
Thank you all for your fine contributions. You've helped me learn a great deal.
– Trevailious Jul 06 '19 at 06:03