The hosting seems fine for a personal/portfolio site, I think it's more than what I have for photography which will use a similar amount of space/bandwidth.
As for what you can install on it, that is limitless so long as your server meets the requirements (i.e. has the right software installed [php/mysql etc]) and you have enough space left to put it there.
Do they supply a domain or have you registered your own? If not, there's your next step
if you have the domain, your host should tell you where to point it, if they are supplying it they will do that, then you start uploading!
As for what you can install on it, that is limitless so long as your server meets the requirements (i.e. has the right software installed [php/mysql etc]) and you have enough space left to put it there.
Do they supply a domain or have you registered your own? If not, there's your next step
if you have the domain, your host should tell you where to point it, if they are supplying it they will do that, then you start uploading!

having dabbled in Photoshop to 3D studio max. I've done a CD cover that went on sale on a small scale and have done a couple of websites but its not much to show. What most compnaies do is compile a book of their best work but I wouldn't look at the bigger picture just yet, just get into a groove and get some ink to paper