Sorry about acronyms, I sometimes forget myself. LSP stands for last step product. Basicly it's the product you choose to protect the paint and glass, it can be either a wax, a paint sealant or a coating (for now)
Polishes are products designed to get the paint to shine. There are 2 types, abrasive and chemical. Both are designed to give the paint gloss and make it pop. The world of polishes is a little complicated because companies sometimes mislabel products. But when you see polish, you should think about making the car look nice. What you want is a finishing polish, those are the least abrasive and give the best clarity to the paint. They won't remove as much defects like swirls but later on you can learn about paint correction and how to do a compound on the paint before polishing. Right now if your paint is in good condition, your goal should be to learn how to wash without damaging the paint, find a last step product you like and use it as recommended to protect the paint. Polishing is only done when needed (for exemple if you start to see swirls in the paint or if the paint is becoming dull).
As for a starter polisher, if you live in the US Harbour Freight (sp?) sells a Dual Action Polisher for about 50$. From every detailer I have seen using it, it looks like a great machine and it's very affordable. One thing you will need to do if you get this polisher is to replace the backplate. theirs is very bad. Autogeek sells all the backplates, you will want a 5 inch one for (probably listed as 4 3/4 or a tad Under 5'') to use 5 inch pads. You can also get a smaller one if you want to be able to do detail work. 3 inch pads are very useful for that. Otherwise, the Porter Cable seems like a good DA Polisher, but I have never used one so I am only quoting other people. Make sure to get a good amount of pads. To start with you should get about 3 of each of the following:
- 5 inch finishing pads (used to apply wax and sealant)
- 5 inch light polishing pads (used to do the last step of polishing to get the best shine out of the paint)
- 5 inch heavy polishing pads (used to remove some defects in the paint like light swirls)
Pads come in 3 variety: Foam, microfiber and wool. I would strongly advise to get foam pads. Microfiber pads are more difficult to use, and harder to clean unless you have a compressor handy. Wood pads a designed mostly for an other type of polisher called Rotary and should be left for heavy paint correcting in the hands of a Professional, there is a risk using them so you should definatelly not go that way as a novice.
You can also get the same pads in 3 inch format if you decide to get a second backplate for your polisher.
If later on you decide you like all of this, you can get a high quality polisher from either Flex or Rupes to get more work done faster. But a simple DA polisher can go a long way if you are using it only for yourself and don't mind taking a little more time to get the job done.