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I know how it can feel for beginners so here I will explain the basics of components and code
LED's
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LED stands for "light emitting diode." A diode is an electrical component with two terminals which conduct the electricity only in one direction. With an electrical current, the diode emits a bright light around the small bulb.
How They Work
Connecting a diode to an electrical current (with a resistor) excites the electrons within the diode, making them release photons, which we see as light. The color of the light is a direct result of the energy gap in the semiconductor of the diode. This means that LEDs produce a spectrum of colors easily and brightly while using very little electricity to do so.
Resistors
Resistors restrict or limit the flow of current in a circuit. The ability of a material or component to resist current flow is measured in ohms.
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https://www.youtube.com/watch?v=Gc1wVdbVI0E

Capacitors / Transistors
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A capacitor is a discrete component that can store an electrical charge. The larger the capacitance the more charge it can store.
The unit of measurement of capacitance is the farad. Often you will see capacitors of much less than a farad. These will be measured in microfarads (one millionth of a farad or 1/1,000,000) or picofarads (one million-millionth of a farad or 1/1,000,000,000,000).
There are two types of capacitor:
polarised or electrolytic capacitors
non-polarised or non-electrolytic capacitors

Transistors
Electronics began with the development of the transistor in the 1950s. Transistors are tiny electronic switches and amplifiers.
Transistors have three leads:
emitter, collector & base.
The base lead controls the transistor: once it receives a voltage of at least 0.6V, it switches the transistor on and allows (some) current to flow from the collector to the emitter. When turned on it acts as an analogue device, which can be used to amplify the current at the base leg.
Arduino is an open-source electronics prototyping platform based on flexible, easy-to-use hardware and software. It's intended for artists, designers, hobbyists, and anyone interested in creating interactive objects or environments.
Arduino can sense the environment by receiving input from a variety of sensors and can affect its surroundings by controlling lights, motors, and other actuators. The micro-controller on the board is programmed using the Arduino programming language (based on Wiring) and the Arduino development environment (based on Processing). Arduino projects can be stand-alone or they can communicate with software running on a computer (e.g. Flash, Processing, MaxMSP). The boards can be built by hand or purchased preassembled; the software can be downloaded for free.
http://arduino.cc/en/Main/Software
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Follow the link to start your tutorial on how to make a LED blink