How to convert your Home Computer into a publicly accessible server on internet with a site on it to and adding domain to it?

I don't know the process exactly but i think first i should apply for static ip from my isp and then setup my site on local computer and use port forwading on port 80,But i hv no Idea How to Add domain to my static ip, so my friends can access my site from internet..

Please Help me with what type of Hardware i need for this purpose
and how to add domain to this server.?