What is Domain Name Registration?
So Domain Name Registration is when you register your name so that no one else has that address. You rent that name as long as you pay for it. If you stop paying to rent it, someone can get it. This is very important to consider as some nasty person may take your good name and put a website on there with something that you don't like. So consider that very carefully.
But people are really smart and if the name you want isn't there you can usually play with the spelling and get something close. Since people use all sorts of methods to send people to their websites- where there domain name- their address is, you don't have to worry to much about getting an exact spelling.
Using Social Media is all about people helping you find your website. Since people are very web savy nowadays compare to say 2000 you don't need to worry about things like that the way we had to back then.
People used to horde domain names thinking that there was some kind of market out there, but if your smart you can figure out just the right name, that quick and catchy and captures your markets attention.
The super cool thing about blogs are you don't have to pay for a domain name (the exception is Wordpress.org but as mentioned below that is actually a website with built in blog that you upload(ftp) to the internet so you can host your site their with your domain name)
Another cool thing about Blogger.com is you can have as many blogs as you like. So I have 7, but the tricky part is you need to maintain them- update them- so people will return.
Anyways that is my explanation about Domain names and you can see the technical definition below by Wikipedia.
Oh just one more point, most Webhosts will offer you the domain name registration, so as suggested in the other posts for Webhosting just go to those sites and you will see the packages they offer.
Here is another good explanation from Wikipedia http://en.wikipedia.org/wiki/Domain_name
The right to use a domain name is delegated by domain name registrars which are accredited by the Internet Corporation for Assigned Names and Numbers (ICANN), the organization charged with overseeing the name and number systems of the Internet. In addition to ICANN, each top-level domain (TLD) is maintained and serviced technically by an administrative organization operating a registry. A registry is responsible for maintaining the database of names registered within the TLD it administers. The registry receives registration information from each domain name registrar authorized to assign names in the corresponding TLD and publishes the information using a special service, the whois protocol.
Registries and registrars usually charge an annual fee for the service of delegating a domain name to a user and providing a default set of name servers. Often this transaction is termed a sale or lease of the domain name, and the registrant may sometimes be called an "owner", but no such legal relationship is actually associated with the transaction, only the exclusive right to use the domain name. More correctly, authorized users are known as "registrants" or as "domain holders".