Somehow I think that posting a link to Riemann's original paper isn't going to explain things very well to the OP.
A good understanding of the Riemann Hypothesis (the statement of it, that is) requires some knowledge of complex analysis and a bit of familiarity with the history of number theory. There are many popular books about the Riemann Hypothesis. I'd recommend reading one of those, such as Prime Obsession by some dude whose name I've forgotten.
The fundamental idea is that somehow the Riemann zeta function is intimately connected with the nature of the primes. The origin of this was with Euler's famous http://mathworld.wolfram.com/EulerProduct.html" , but Riemann was the one who realized the true importance of the zeta function, which is why it's named after him.
Mathwonk's post misleadingly connects the prime number theorem with the Riemann Hypothesis. (I don't think mathwonk meant to be misleading, but the vagueness of that post makes the distinction unclear.) It is also true that the prime number theorem (which states that the number of primes less than n is proportional to n/log(n)) is closely related to the nature of the zeta function. In fact, the prime number theorem is equivalent to the statement that there are no zeros of the zeta function on the line in the complex plane with real part 1. This was proven independently by Hadamard and de la Vallee Poussin (probably I spelled his name wrong) near the end of the 19th century. (In the 1950s or something, Erdos and Selberg independently came up with "elementary" proofs of the prime number theorem. But I don't know much about these proofs or whether they shed further light on the significance of the zeta function.)
The Riemann Hypothesis actually states that all (except for a few trivial) zeros of the zeta function lie on the line in the complex plane with real part 1/2. Of course, this would imply the prime number theorem, by the equivalence I mentioned above. However it is a MUCH stronger statement, and the other things that would follow from a proof of Riemann are countless. (Search on Google for "equivalent to the Riemann Hypothesis"...) So far, I believe results are something like this:
- All nontrivial zeros have real part in the interval (epsilon, 1-epsilon) where epsilon is very small, and possibly depends on certain other things which I don't remember.
- The Hypothesis has been computationally verified up to extraordinarily large numbers.
An important point I should mention is that everyone believes Riemann is true. The reason people still care about it is not to find out whether it's true. It's to find out what methods would be required for the proof, and what other deep insights into number theory we would obtain as a consequence of the techniques developed for the proof.
More reading can be found on http://en.wikipedia.org/wiki/Riemann_hypothesis" .