Sorry. It is hard to explain it any easier than that with out going into far more detail than I can on this thread.
Basically, all the devices connected to your home hub (wireless router) should be given those 4 key bits of infomation.
IP address
Subnet Mask
Default Gateway
DNS server address
If not then perhaps the i pod isn't set to recieve its network settings automatically (known as DHCP). I know how the internet works as I teach Cisco certification courses (Cisco - very large networking company) however I have never seen a home hub or i pod touch so I have no first hand experience of your specific product.
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