pass the needles, babe
I don't know everything there is to know about knitting - yet. But I can share what I do know. So, here goes!
The only materials you'll need are yarn and needles. However, it is kind of important that you have the right kind of materials when starting off. You'll want a simple yarn, one with no ridges, that will be easy to work with. This will make it easier to learn what you're doing. In the future, you can work up to the other, fancier stuff.
As for needles, it doesn't really matter whether they're plastic, bamboo, or metal. I have both bamboo and plastic ones, and they both work really well. For starting out, it's best to use size ten needles. Again, you can work up to other needles in the future.
The first thing you need to master is a cast-on, otherwise you have no means of starting a project. I started with the long tail cast-on, which can be learned here. There are plenty of other modes of casting-on, which I intend on teaching myself later, that can be found here. When beginning to knit, I think it's important to try out a variety of techniques. That way, you're well acquainted with a majority of techniques, and you can figure out what works best for you, personally.
I then worked on the knit stitch, which is discussed here. I chose to learn the English method, here. But again, it's all about what's most comfortable for you. Don't be afraid to try out of methods.
When you get to the end of a project, you'll need to learn how to bind off. I'll be using the basic english knit bind-off, here. Other ways to bind off can be found here.
I would suggest practicing the stitches before you start any project, just so you can get comfortable with it all.
As for projects, the easiest thing to start with is a scarf, or if you want to start smaller than that, a bookmark. This will give you plenty of practice with casting-on, stitches, and binding-off. It's the perfect start to get the basic skills down.
If you're serious about taking up knitting, I would suggest sharing your projects with other knitters for support. Ravelry is a really great community site with plenty of welcoming and helpful members. I have an account here, under the same name as here.