You can see web hosting as a website housing service. The hosting provider gives a place where your domain and site can stay and in return you pay a monthly fee. Web hosting is the easiest way to add your domain and site to the internet. There are several providers that offer cheap domains hosting, some for personal and some for business use.
Here's a review of my favorite web host: I would recommend Lunarpages for affordable cheap hosting. I have been hosting my sites on Lunarpages for almost 6 years now and I'm really happy with their service and customer support. They offer an amazing unlimited and cheap web hosting for all your domains. Plus their web hosting comes with a free domain name for life for as long as you use them as your hosting provider.
You can basically choose between dedicated hosting and shared hosting. Dedicated hosting is only recommended for business professionals. Dedicated hosting is more flexible than shared hosting, as organizations have full control over the server(s), including choice of operating system, hardware, etc. Shared hosting is cheap hosting and is what 99% of people use. Lunarpages also gives unlimited add-on domains with their shared hosting plan. An add-on domain makes it possible for you to have an additional domain (with email) on just one account. In other words, even if you bought thousands of domains, you can host them all on the same hosting account. So for domaining Lunarpages deserves the title as best web host in my opinion!