A very simple answer mate,
pH is graded as follows: 1 (highly acidic)------------7 (neutral)--------------14 (highly basic)
Ya know that water is H2O right? Well picture this as H-----O-----H. Water, by its nature, is slightly acidic or basic depending on certain conditions. Acidic water will have more H+ ions present free in solution while alkaline (basic) water will have more OH- ions present in the free form. (ions are just an element or molecule that has a charge!)
pH really isn't that difficult to understand, a quick search on Wikipedia or through google will give you a simple explaination as many chemistry pages can be a bit over-powering.
As rdd said, pH really isn't that important so long as you know that your water is capable of keeping it at a set pH value. Water hardness is the key here. The harder the water (the more dissolved metal ions I believe) will keep the pH at a stable point. Fluctuations in pH are generally caused by your water being soft, you can add things like coral sand to increase the hardness of the water.
If my information is incorrect, slap me on the wrist...I'm still learning!!

(although I should already know this...I am a scientist after all!! OUCH!!)