Hahaha, yeah that'll happen if you don't know electricity.
1. 115V AC is what comes out of your wall. 230V AC is what comes out of SOME hookups, most commonly for an electric dryer. The plug is huge and the outlet looks very different.
2. A DC power supply takes in AC current and spits out DC current, for a DC motor. This gives you the advantage of being able to easily control the speed of the motor. Its input is either in 115V or 230V AC, from your wall. Its output is: x (DC) volts, and x (DC) amps. You need to make sure your DC power supply supplies at least as many volts AND amps as the DC motor you're using requires, which will be listed in its specs, probably right on the motor plate.
3. AC motors are nice because they use AC current so they just plug right into the wall, whereas DC motors NEED a power supply to convert AC to DC for it. However it's stuck at one speed, whatever it's listed as operating at. "micad" just mentioned that if you put down some dollars, you CAN get an AC power supply to control the speed of an AC motor. There are different types of AC motor, there is only 1 type of DC motor. Capacitor start, single phase, split phase, 3-phase all describe AC motors. Basically, you'll need to tailor your AC power supply to the type.
The advantage here is mainly that AC motors are cheaper, I believe 3-phase use less electricity to run, and they're more readily available in higher horsepower ratings. They might also be stronger for their size, I could be wrong about that.
If you want to go this route, then enlist the help of "micad" he knows more about AC motor power requirements and specs than I.
Otherwise if you want an AC motor w/o speed control, just grab one that looks good (avoid 56C mount typically, as they mount via bolts in the face of the motor) at 1725+/- RPMs and go for it. 1HP is reccomended minimum around here.
Anyway I hope I simplified it down for you.
_z