What defines a Republican and a Democrat? What other parties are there?

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Part of our every day life involves on major thing: Politics. So where do we start? All my life I've actually been kind of confused about what defines a Democrat and what defines a Republican. I turned 18 on February 23 of 2008, and of course, you know what that means... Registration to vote! Yup! So, naturally, it's important to know what you're getting yourself into when you pick a side, as there are many beliefs and ideals... Each of which have those who are radically supporting their beliefs. In High School, you learn the fundamentals of the way our government works, and the basics of both parties, but when it gets down to it... It's obviously much deeper than what we've learned. So here's the question: What defines a Republican? What defines a Democrat? What other parties are there, and what do they generally believe in?