Ripping is a term used to describe the
action of copying songs from a CD to a playable format onto a
computer. You have the right to backup your music, and sharing it
with personal friends is a very gray area! Ripping is legal, while
what you do with the ripped data may not be. Do be aware!
Having said that:
To get started, you need to fire up your ripper, decide on a format. Mp3 with a variable bit rate can be a good choice, or if you are an audio purist, flac format, which has no loss of quality and will preserve the full CD quality.
DO put all of the songs in one folder and choose a naming convention that preserves the original track sequence. Track number as a 2 digit number leading is a good choice.
To get started ripping, you need to get a ripper.
I'd suggest: http://www.audiograbber.org/ as a good choice.
You will find a lot of technical information on the page and you need to know about most of it do make good choices. This is something that you will not master overnight. You may be able to find more "out of the box" type rippers that may do the job for you, but audio grabber gives some of the most complete options, though it does require plugins and additional downloads for full functionality.
Using audiograbber does require the lame.dll, which from the the audiograbber site, has a charge, now. It's small and a convenient way to get it, but there are free versions of lame.dll that can be downloaded and copied to the audiograbber folder. You may choose to go that route.