A Domain name is the http://www.yourdomainname.com, which isn’t to say the same sub-domain, or complex web site address you find with blogs and some free web sites. The domain name enables you to have an easy-to-remember web address so people can find you.
Domain names are also separate from blogs and web hosts. You can have a free site/blog and still get a domain name that directs visitors to your site/blog. You change settings to ‘re-direct’ to where you want.
For instance, this blog is still frootbat31.wordpress.com, but I purchased my URL (web address) and set it to direct to my blog. I can change it later to a web site or even another blog if I want to.
Domain names will cost you between $5 – $20 or even more depending on the name and if someone already owns its. The average is about $9. You can sometimes find sales where they pretty cheap, as well.
Each domain name is unique. Each one specific. If I wanted the .com, I would have to contact the person who currently owns the .com version and make him an offer. I’m fine with the .net.
TIP: If you do go looking for a domain, BUY IT WHEN YOU SEE ITS AVAILABLE! Once you search, people will buy up the domain and ask for tons of money.