What is Dedicated Web Hosting?
A dedicated web hosting account is where you get an entire server all to yourself, to do almost anything you want with. This contrasts with shared hosting, where your website will be located on a computer with possibly hundreds of other users, and virtual private hosting, where you will share a server with others but have your own partition.
A dedicated server is really only necessary for the absolute heaviest of users; those with extremely large video, audio, or gaming files with large numbers of users that will be a heavy load on the server's resources.
If you have a dedicated server, you will have complete root access to the computer, with the ability to install whatever you want in any way you want, such as PHP, SQL databases, etc.
You will generally have to configure it yourself as well, so you will need to have someone knowledgeable about Linux or Windows web hosting.