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An internet service provider is a company who provides you with access to the internet. Typically, he maintains equipment that you dial into when connecting your computer to the internet. The connection allows you to browse the internet (surf the web) and send and receive email. These services are usually provided for a monthly fee paid in advance. AOL and MSN are a couple that you frequently see advertised. There are many others.
A Web hosting service provides computers which are always connected to the internet. These computers store web pages and serve them out to internet browsers as they are requested. This service is usually provided for a monthly fee paid in advance. This is a different function than an Internet Service Provider.
A name that you can essentially rent from the internet community to identify your website or company. The name you choose must not be in use, then you can pay an annual fee to keep it reserved for your exclusive use. The annual fee goes to a company who keeps your name in a list so that all the internet can see that your name is in use and reserved to you.