To be honest, if you don't know how to set up your server, get
wamp (site in French and English). It's a bundled server with Apache, PHP5 and MySQL. Optional add-ons include PHP4 and Perl.
Anyway, yeah, using NO-IP.com is a great solution to get a domain that gets updated with your current IP.
Very simple to use too.
Also, be aware that you'll need some good protection, aside from making sure about the bandwidth.
To be honest, it's much better to get a paid hosting, especially if you have a "normal" ISP contract.
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