Home DNS Server?

[sanddrag]

Is it possible to set up a home DNS server? I do not have a global IP address for it, only local. But I can forward ports in my router. My home network goes Cable modem>router>switch>computers If it is not possible to set up a real DNS server on the internet from my house (I would prefer to do this, but if I can't then...), can I set one up just for my home network? So when I type a domain, it will point to an http server on my home network?

Specifically, I am using MacDNS. I have read through the manual and read through howstuffworks and wikipedia about DNS but still only vaugley understand it.

What I need to know is how to set up my machine so that when I (or anyone in the globe if possible) type for example mymachine.net it will go to the IP that I set. I am not looking for URL forwarding, I want real DNS from my own DNS server.

Sorry if my question is a little unclear, but this stuff is confusing to me. Thanks.