Anyone can buy a domain name. To do so, you visit a domain name registrar, such as GoDaddy or Namecheap, key in the domain you want to buy, and pay a fee. You can't buy just any domain, of course—only one that isn't already registered by another person or business and that bears a valid domain suffix. In general, you'll want to buy something that is catchy and short so that it's both easy for people to remember, and easy for them to type in—like "PCMag," for example. That good search engine optimization (SEO) and it's also common sense. You might also want to do some research on key terms for your business. If you can get a good one into your site's name, that's all the better, from an SEO perspective.
Hostt is a just-launched free web hosting company that includes domain name purchasing and registration. They've a suite of offerings, such as one where you'll pay $13.99 per year for domain names with extensions that include .com, .net, .org, .us, .biz, and .info., but have unlimited bandwidth, web space, sub-domains, parked domains, sub-domains and email accounts, among other things. Like HostGator, they include domain locking and automatic renewal, along with a user-friendly management portal (which, believe me, is pretty rare) and 24/7 technical support. This isn't a bad price considering the amount you get, and their $3.95 and $5.95 a month packages both offer fairly balanced domain-inclusive packages.
Many registrars reserve the right to revoke your domain name for specific reasons, typically if you use the domain for illegal purposes or purposes deemed unacceptable (such as spamming). Many contracts contain a clause letting the registrar delete your domain name for no apparent reason. The implication, of course, is that the domain name is the registrar's, not yours.
If you ever change your web host (the actual physical location of your website files), your domain name goes with you. Your regular visitors or customers who knew your site name as (say) www.thesitewizard.com would not have to be informed about a change of web address (also known as "URL"), since as far as they are concerned, the site is still at the same place. They would simply type your domain name and they'd be transparently brought to your new location.
Now it’s time to see if your domain name choices are available. Once you’ve come up with a few strong domain candidates, it’s time to plug them into Namecheap’s domain name search bar. We will search available domain names for you and let you know if your first choice of second-level domain or TLD is available. We’ll also suggest some alternate TLDs you might try if your first domain choice isn’t available.