
ISO whether you are working with film or a digital camera deals with the sensitivity of the film/sensor in the camera. In film you literally had to select different film sensitivities for the entire roll but in the digital age every photograph you shot can have a different ISO setting. In a digital camera you can either have the camera auto select an ISO or you can manual set it.
ISO is considered to be the third leg in exposure along with Shutter Speed and Aperture Settings, though it is usually only looked at for its effects on a photograph from a grain stand point. The higher the ISO, the more sensitive the camera film/sensor is, and the more grain will occur in the photograph. A lot of grain in a photograph is considered to be bad, unless it is done for artistic purposes.
ISO settings usually follow the same schemes running from 100 (the least sensitive) upward doubling as you go to 200, 400, 800, etc. regardless of medium. Some upper end DSLRs might split ISO settings to get other values.
But since ISO is part of the exposure scheme it does have an effect on the other two legs of the exposure and should be understood enough to help you when you either select Aperture or Shutter Priority modes. This is seldom discussed beyond just taking photographs in low light, but this will take another blog entry to go into any deeper.
To get a handle on the basics of ISO go to this page on the Digital Photography Schools website, called ISO Settings in Digital Photograph.
While you are at it visit the related article on the Exposure Triangle that pulls ISO, Aperture and Shutter Speed together under one roof.
I have no idea why that photo in ths blog entry was selected... I just like have something to look at while reading. It was a time laspe photograph, painted with a flash light. 46.0 seconds, F4.0 with an ISO of 100.