This might seem really noob, but can anyone tell me what the "Effects Loop" on the back of my combo amp is for, and how I can use it?

One input says "Send" and the other input says "Return."

I've heard some people say that effects sound better when run through the Effects Loop or something, and I was wondering what that meant and how it helps.
That's what you use to send your signal out to any outboard effects processors (i.e., wah-wah, distortion, tuner, etc.). You usually use this loop if you want to retain the effect your amp has on your sound (normally, you could plug in your pedals before plugging into the amp's main instrument input), such as the amp's graphic equalizer or presets on mid, treble, or bass. After you run your signal through the effects, you put the signal back into the return, where it is returned to the amp and then pushed through the speaker if it does not run through any other knob for adjustment.
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^exactly. and for that reason some effects sound better in the loop, and some sound like crap.
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