LiLo (stands for Linux Loader) is old and I haven't seen it on any "modern" Linux distribution (used it once on a very lightweight system for an old 1997 Pentium 1 laptop). GRUB is newer, easier to use, and much more powerful. Both of these programs are "bootloaders", they replace the boot-up sequence of your operating system and instead print a menu that allows you to have multiple operating systems installed on the same PC. For instance, you can have Ubuntu and Windows both installed and GRUB will let you choose which one to boot when you restart your PC.
The best one is probably GRUB2, a new version of GRUB that comes with new distributions (it showed up in Ubuntu 9.10 last Fall, replacing the original GRUB [now called GRUB Legacy]). It's somewhat easier to install (though I got really good at configuring the old one and the new one is quite different) and auto-detects most operating systems.
As for Terminal, it goes by a lot of names. In Ubuntu it's listed as Terminal, but there are other terminal programs like XTerm that do the same thing. Also, if you want to get a "real" terminal and not a terminal client on your desktop, hit CTRL+ALT+F1 (through F7 work too). The F7 key is your default session and by default it loads an X server (it's the program that allows you to use a graphical system with icons/desktop/mouse/etc). If you want to switch to a full blown terminal, pressing CTRL+ALT+F# switches sessions, all the other sessions are unused by default so switching to them gives you a login prompt and then a full terminal.
