Gwill posted a great overview of the brewing process, above...
I can't emphasize how easy it is to brew your own beer, and dug up a YouTube video that illustrates the process as well. The video is by a large mail-order place that sells everything you need, but you can go to your local Homebrew shops as well and buy everything you need for well under $100...
http://www.youtube.com/watch?v=5jtCgQOB85E