Oh man, I should be writing my paper!! I have a good start on it and as long as I get a good amount done by Sunday, I'll be sweet.
If you're looking for "what do I do" advice for dieting, I'd recommend tracking what you eat. I reckon that's the biggest thing when you start on a diet. You have to look at what you eat: how much, when, where, what kinds of food are most prevalent (fats, carbs or proteins) and where you can cut down. So, number one is get a food journal (search google for online ones: my fitness pal, the daily plate, fit day, etc). Stick to the serving sizes listed on the bag or box. If possible, make your own; it always tastes much better.
Second is to find out how many calories a day you need to eat to get rid of your excess weight. A 500 calorie/day deficit from your basal metabolic rate (how many calories you burn lying in bed all day) will give you a 1 pound per week loss. Similarly, 1000/day will give you a 2 pound per week loss. Doctors don't recommend going over 2 pounds per week since you may not get the nutrients you need.
If you're not into calorie counting, talk to some of the chicks over in the South Beach, Weight Watchers or Fat Smash forums about getting started. There is no shortage of women and men here with recommendations for starting a diet.
As for exercise, it's a very important thing to do when losing weight: it helps with fat burning and muscle building- not bodybuilding but muscle toning. Don't worry about weight lifting; you won't get giant man-arms from lifting a few pounds.

Cardio is great, but you need muscle tone to help combat the lean muscle lost when dieting.
That's about all I can help you with right now; I'm super tired (it's 11pm and I need to be up for 7:30). Call out if you have any other questions.