Think of shared hosting as going to a public pool. Your website will be put on a server that is hosting a lot of other websites. There are advantages and disadvantages.
A lot of things are provided for you. It's great for beginners. There are often tools provided for non-technical people who want to setup a site. Even if you are a programmer, these tools can save you a lot of time.
If you're not technical, I recommend using shared hosting and installing Wordpress using the hosting tools.
There are often more restrictions with shared hosting. Some of them are:
I wouldn't worry about these restrictions if your site is not getting a lot of traffic. Which shared host should I choose?
I've used BlueHost in the past, and have had a good experience with them. I've heard about other services, such as HostGator, but have not used them personally.
Next: What is Virtual Private Server hosting?