Step 1: Getting the software needed.
1. Itunes 8.2
2. The IPSW for your Iphone or Ipod.
Sorry, I cannot link to these directly but a search in google will get them for you. Also I have trouble finding them shoot me a PM and I can give them to you.
3. RedSn0w from the Dev-Team (Current version is redsn0w_0.7.2)