Oscilloscopes and waveform generators
An oscilloscope is a device that lets you analyze electrical signals. Its use is often indispensable when designing, debugging or simply using electronic circuits.
A signal generator is a device capable of producing electrical signals (typically periodic signals), the characteristics of which can be specified by the user. The main characteristics of a periodic signal are waveform, amplitude, and frequency.
A good introductory guide to signals and oscilloscopes can be downloaded from | Tektronix (one major oscilloscope manufacturer).
Beware! Especially with high-frequency circuits, you definitely 'cannot' ignore the fact that oscilloscope probes are not ideal. You could even destroy your electronic circuit pretty easily. Before it's too late, read | this (useful and funny!).