Basic Terminology

Webmaster - Person who maintains the website
Web Designer - Person who has a graphic design background and designs the website and codes the front end
Web Developer - Person who has a technical background and codes the back end (database)
Content Writer - Person who writes content suited for the desired audience of your website

SEO - Search Engine Optimization
SEM - Search Engine Marketing
PPC - Pay Per Click

Domain Name/URL - The part that follows the "www" in a website address
Domain Name Hosting - Where a domain name is registered, can be same place as where website is hosted

HTML/XHTML - Core language of a web page
PHP, ASP, ColdFusion - Scripting languages that must reside on hosting server
JavaScript - Scripting language that is web server independent
CCS - Cascading Style Sheets - keep pages uniform by having the styles in a central place
WYSIWYG - What You See Is What You Get - Visual editor to create and modify a web page (Dreamweaver, FrontPage)

Web 1.0 - The websites where the user gets information from a website
Web 2.0 - The new websites that allow user interaction on the website (Facebook, Blogs, Utube).

Hosting Terms

Features to look for in a shared hosting environment (suitable for most small websites):

Space - If you have large files, lots of graphic or videos you will needs lots of space
Bandwidth - If you anticipate lots of downloads of large files you will need more
Web stats - Tracks traffic on website
Database - Used in conjunction with a Content Management System (CMS) tool or for data capturing (information on a form, signup to get on mail list etc.)

Linix Server - Generally used in conjunction with PHP and MySQL
Microsoft Server - Generally used with ASP/ASP.NET and MS SQL Server or MS Access

These definitions are just a guide to help novice web users with some common terms and not meant to be comprehensive.