Types of Hosting:
-Free Hosting: usually sucks, is usually cheapo shared hosting.
-Shared Hosting: this is the cheapest type of hosting. It means that you are stuffed onto another server with hundred of other accounts. Also, a shared IP, so if one of the sites is found to be spamming yours is affected too. However, there are some good quality shared hosts out there.
-VPS Hosting: Basically you get an entire "server" to yourself, except that the "server" is really a virual machine on a server with a bunch of other VPS servers. This type of hosting is a little bit more expensive, but it's also really flexible as far as CPU speed, hard disk capacity, etc.
-Dedicated Hosting: This is the most expensive type of hosting. You basically get an entire server for yourself. This is what Tech-Squad will be getting soon...
-Control Panel: this is the GUI interface for controlling any aspects of your web hosting account. The most popula ris cPanel, but it's expensive. There are free options too.
-Bandwidth (also called "transfer") This is how much internet traffic your site uses. Most hosts give you a fixed amount per month. You choose how much you gte when you sign up.
-Disk space: how much space your site uses on the server's hard drive(s)
-One-click installs: these are popular with many control panels, they allow you to install things like phpBB and WordPress with the click of button, instead of manually installing.