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What is a domain name?

A domain name is your website name. A domain name is the address where Internet users can access your website. A domain name is used for finding and identifying computers on the Internet. Computers use IP addresses, which are a series of number. However, it is difficult for humans to remember strings of numbers. Because of this, domain names were developed and used to identify entities on the Internet rather than using IP addresses.
A domain name can be any combination of letters and numbers, and it can be used in combination of the various domain name extensions, such as .org, .net, .info and more.
The domain name must be registered before you can use it. Every domain name is unique. No two websites can have the same domain name. If someone types in www.yourdomain.tld, it will go to your website and no one else's.

Do I need web hosting?

If you want to be a part of the Internet space as a business company, information resource, directory, or as a person wanting to share data, information and knowledge about various kind of stuff with all people and communities on the Internet, you have to make a website and post it on the Internet.
Web hosting empowers you and anyone with a computer and Internet connection to own a web space. In your web space, you can have information like news, bulletins, documents, data, files (your website) and your own mail services to accept mail, everything needed by you or your business. This web space is your own space where you host your files and e-mails, so that other people on the Internet can view your website or communicate (send and receive e-mails) with you.
The cost of owning a personal server dedicated to a web site and email is out of reach for the average business and especially most of the members of the Internet. Running a website and mail server on your own/office computer that is connected to the Internet requires a lot of technical skills and knowledge.
Nowadays, our modern society requires every person in business company to have a website, not just to be competitive but to survive. Web hosting companies exist to provide web hosting services (in form of web hosting plans) for the public to own a personal piece of web space, 24/7 and at low cost.
A web hosting plan offers you a web space to place your files, data, documents, and bulletins for people to access with their web browsers and an e-mail services for you to send and receive e-mail messages. To obtain all these you should become a member and agree to terms and conditions of renting the web space. Once you agree and become a member, you are given a login and password to access your own web space (web hosting account). This account information allows you to connect to the web hosting provider and up-load (transfer to) files to your website so it can be up-to-date. Your login and password is also used to create and administer all e-mail accounts, send and receive e-mails for you, your staff, or family members.