Have a look at this link
http://www.practicallynetworked.com/qa/qa20030213.shtml
In practice it is very easy to have peer to peer networking, you just need to buy a special cross over cable.
However, depending on what hardware you currently have for your intenet access, you might already have the equipement.
If you want wireless networking, then you must have both with WiFi cards. If however , you have a wired internet connection, it is probable that your modem has more than 1 ethernet connection. Just plug your 2 machines into this modem using standard ethernet cables and you have all that is needed for a simple network.
In all instances, all you then need to do is make sure that both PC's are set to share hard disks and that you then follow the steps in the new network connection wizard or select My Network place from the start menu and search the network.
Incidentially darkchild, you do realise this is a PDA forum and this question is better directed to a general PC forum.