Answer: A domain name is a word along with a top-level domain (.com, .net, .org, etc.) that uniquely identifies your website.
Registering a domain name is a very simple process. First, make sure the domain is available. You can do this by looking it up on WHOIS page. Once you confirm it's available, you can register the domain at free-solution.com or any other domain registration site. Registering with free-solution.com simplifies the process greatly because FWS will take care of DNS registration and other changes that need to be made.
Web hosting involves renting space on a server and bandwidth from a provider so that you can publish your website online.
Disk space refers to the storage required to hold your website. Every single letter on your website has to be stored somewhere on your Web host's server. Each letter is one byte, and a megabyte is roughly 1 million bytes. HTML pages are usually very small, but images, scripts and databases can take up large amounts of disk space. Bandwidth/transfer is the amount of data the server will allow your site to transmit in a month. Transfer is usually measured in gigabytes, or billions of bytes.