It's short for for Mpeg Layer 3, a compression methode to delarge a Wave-file upto 1/10th of its original size. Mp3 is the art of removing sound. A human hearing is not a very good one. It has a reach from 20 Hz - 20 kHz. Mp3 removes all the sound below 20 Hz and above 20 kHz. This results in less sound and the use of less bytes.
Well what you need is some kind of a starters-packet, you'll need a player, that's the minimum. The best and user friendliest player is Winamp 1.81. To download this program go to my download section.
If you want to create the files yourself, you'll need a grabber or stripper and a compressor. The first two are programs which record audio-cd's into Wave-files. A compressor is a utility which converts Wave-files to Mp3-files. To download these programs go to my download section.
Instead of grabbing your own cd's it is much more fun to collect songs you haven't got already. The internet is full of sites (http- and ftp-sites) where you can download complete albums. To find out where: go to my Links section.