lol...ok...First of all, it's called overcloc
And CPU overclocking is done through the BIOS.
GPU overclocking is done with software. Most common programs used, are ATI Tool, Rivatuner, and Ntune.
CPU and GPU overclocking are the two most common methods.
Basically you're pushing the processor to run faster than it's default speed, resulting in a performance boost for free, instead of getting a faster processor, which cost more.
The basic steps to overclocking:
1. Go into BIOS and disable both EIST and C1E (These are power saving features, usually disabled when overclocking).
2. Increase the FSB speed by 10-15MHz.
3. Stress the overclock, with stress test programs. The usuals are Orthos or Prime 95. And you run it for at least 8 hours with no errors. This will test the stability of the system.
4. After the stress test passes with no errors, proceed to increase the FSB speed again, in a 10-15MHz increment.
5. If at some point, the stress test fails, and causes the stress test program to stop, or freeze the computer...Restart the computer, go into the BIOS, and increase the voltage on the CPU or Vcore. Only increase the voltage to the next higher level, or the next notch up. Until the stress test proves the overclock stable.
It's highly recommended you not overclock with a stock cooler, and get an aftermarket cooler, along with aftermarket thermal paste. Such as AS5, MX-1 or 2.
In my opinion, I think it's better to have the FSB and RAM speed at a 1:1 ratio. This way, nobody is holding each other back, when overclocking.
You also want to overclock, based on temperatures. So if you're loading at 50C, you got a bit of head room left, to overclock some more. As long as you don't go over 60-65C on load, you're safe. A good idling range is 30-40C.
If you've gone too far, and you find that you can no longer boot up....turn of the computer, unplug it from the outlet, open up the side panel, remove the CMOS battery (looks like a watch battery), and take it out for a couple of minutes. Then place it back in. This will reset the BIOS, back to it's default safe settings. You might have to refer to your motherboard manual on reseting the CMOS, as there are primarily two different methods to reset.
*edit*....The average lifespan of a processor, is about 8-10 years. Overclocking takes off about 1-2 years, depending on how much you overclock. So I assume you won't be using that same processor for 5-7 years.
To read up some more info on overclocking, check this guide:
Overclocking Guide - MajorGeeks Support Forums
...It's where I first learned how to overclock, and I think it's a great guide for beginners.