Dedicated server and Reseller account
A dedicated server is better if you can afford one, because they work out cheaper, but they are more expensive because you get more with them.
A reseller account is an account you can buy from someone (usually) with a dedicated server, it is smaller, and a best way to start, then move up to a dedicated server. A dedicated server is a computer with a constant connection to the net, where you save all your files etc to the hard drive, and you get b/w to allow other people to access the files.