Shared hosting is web hosting in which the provider houses multiple sites on a single server. For example, Site A shares the same server with Site B, Site C, Site D, and Site E. The upside is that the multiple sites share the server cost, so shared web hosting is generally very inexpensive. In fact, you can find an option for less than $10 per month.
The company also offers higher-end Windows and Linux servers, available with Plesk and cPanel respectively. We were very intrigued to see that the company offers low-end Atom-based dedicated servers as well as the more traditional Xeon-based machines. One great resource for those doing some basic experimentation, or site development, is that it has a free, three-month trial for one of its lightly equipped Atom servers.
A domain name is a website address made of a website name, followed by a dot, then an extension like .com (fitsmallbusiness.com, for example). You can receive a free domain by buying web hosting packages that include them or via domain name registrars offering little-known extensions like .tk. Paid domains offer extensions that lends to greater business credibility like .com or .net domains.