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Web hosting and Domain Name

What is a Web host? What's the difference between Web hosting and Domain name? Oftentimes we encounter websites that advertise their web hosting services. When we avail of their services, do we have our own website (ex. http://www.mysite.com)?

Web host is a business entity that provides web hosting services.
Web hosting is providing an online storage for data and information (text, images, videos, etc.).
Domain Name is an address in the Internet which takes an alphabetical form (we can also refer to it as the alphabetical form for the IP Address).

Companies invest on server computers with large amounts of storage to be able to provide space for those who want to have a website but don't have the resources to "host" it from their location or office. These servers will have their IP Address which takes on the form of ###.###.###.### all of which are numeric (ex. 209.85.175.99)
Before we avail of a company's web hosting services, it is good to at least know these terms because there are a lot of sales talk going on over the web. It is also good to read reviews about web hosting companies. It's also good to look for best budget hosting.
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