You can tell, I'm a total novice...
What I'm trying to achieve is something like this:
http://www.masters.com/en_US/bios/bio7457.html (not as fancy maybe )
where on choosing something from <select ... option...> will change small content inside of the page. I have no idea how it could be done except for creating separate pages for each <option>. I even don't know IF it could be done... Guys, please advise!!!

For the most part that is exactly what they are doing. It appears they are using JS to load the "content" portion of the page depending on the selection you make.

If you take a look at the page source code you can see it happening in and just below these lines:

<script language="JavaScript" src="/includes/js/popularNews.js" type="text/javascript"></script><a name="skipMostPopular"></a> </div><div id="subWeather"><a name="subWeather"></a><h2 class="access">Weather</h2><div class="access"><a href="#skipWeather">Skip Weather</a></div><table cellpadding="0" cellspacing="0" border="0" class="paleGreenBorder"><tr><td><a href="javascriptpenExternal('http://www.barkerstores.com/themasters/Default.aspx',true)"><img src="/images/misc/sub_journal.gif" width="172" height="181" border="0" alt="2008 Masters Journal"/></a></td></tr></table><a name="skipWeather"></a>
</div></div></noindex></td>

You can use JS, PHP or even just html with extra work. The beauty of the JS or php is that you only have to create and store the seperate "content" portions while the basic page outline (header, footer navigation) stays the same and is incleded on all pages.

Edit: your "content" portion could even be pulled from a database and formatted on the fly.

I'm not really good with JS, Database and PHP , my "advanced" knowledge of PHP is how to send form to mail and <?php include...>
Do you have a basic idea I could start with? Appreciate any help!

I found it! May be not the best thing to do, but it works! <iframe>!

<select name="page" onChange="top.iframe_name.location.href = this.options[this.selectedIndex].value;">