I really lack the knowledge to get where I want to be...

I also felt overwhelmed at first. I'm still learning the basics about BMR, calorie deficits, and TDEE. I agree with just taking it one day at a time. You can just go at your own pace. This is not a race. Maybe you could filter out what you don't need at the moment, bookmark, and save for later. You could just focus on what you feel you need to learn at the moment. There's so much to know!! I just take it one day at a time. I also ask a lot of questions after researching if I'm confused.

Do not try to research everything at once, sometimes it's best to interest yourself with 1 specific topic (e.g. TDEE, strength training vs cardio, rest days, etc.) and look into that until you are comfortable with your understanding, then move on as new interests come up. I have been doing this now for 8 months and most weeks I still have a topic I am researching and learning about while practicing the stuff I already know.
It's all progressional, I am still getting results whilst I am learning new information for better, healthier results in the long term.

I felt that way when I first started and the only way to over come it is to get interested in learning the facts. There is a lot of knowledgable members at this forum (some some not so much ) who post some great advice and I've learnt a lot through reading topics and replies. I also spend a lot of time on websites like www.blogilates.com and most recently, http://www.nerdfitness.com/ reading up on information as I become interested in a specific topic.

Also, GOOGLE IS YOUR FRIEND! Most things I didn't understand when I first began getting into fitness, I would google and find so many good articles on it. Just try to keep an open mind as not everything on the internet is true.

If you want a general rule for making this work;
1. Work out 5 days a week, for AT LEAST 20 minutes. You should try to improve on this over time too (e.g. switch from 20 min workout to 30 min workout, then 40 mins, also increase the intensity of workouts you are doing.) Jillian Michaels is great for this as she has a wide range of work outs for different abilities and they are all varied lengths. It's a great place to start, I got most of my initial success through her work outs.
2. Control your calorie intake. I ate at 1200 cals per day for a while and then stalled, I had the most success when I ate around 1400 cals per day because it suited my lifestyle better and I also combined MFP goals with the TDEE method and found a an average number between my two results. Over time, I've upped my calories by 100 each time I've stalled or felt my exercise has progressed in a way that I can afford to eat more for the burn.
3. Cut out any soda, juice, etc. from your diet and ensure you drink at least 1.5-2L of water per day. All those other drinks contain calories and you are wasting food calories on them, you would be surprised how many calories are in an average glass of orange juice (it's around 150-200 cals).
4. If you are going to take a cheat day, log it anyway. You will find even your cheat days become healthier and less calorie dense when you are faced with how bad certain foods are for you, you wont want to eat them.
5. Weigh all your food. It's the only true way to find out how much you are actually eating, do not guess unless you have no other choice and let it be a one off.

This is pretty much the basic formula people use when they start out to cut fat. It's relatively uncomplicated and will prepare you well for when you have lost weight, improved your fitness and are closer to your target. When you get to that point, you'll have researched enough on your own to know where to go from there.

My advice is to talk to a doctor. They will let you know what you really need to be focusing on (calories, macro nutrients, etc) for your body. It not always the same, even if you are losing weight. My husband had to really focusing on adding water to his diet while I had to really count calories and we both lost weight. Don't over complicated it and try to focus on the important things. Don't get bogged down in details.

I had great success, using a combination of cardio, weights, diet. I did couch25k program, then made my own goals from there. I also do 30DS and RI30, and lift weights. So a typical week looks like this:
am: 30DS or RI30 video(mon) aerobics video(tues),
pm: run 30 min.(mon), weight lifting (tues)
repeat mon workouts on wed and tues workouts on thurs
Friday is whatever video you choose (cardio, circuit, yoga, pilates, etc)
Saturday is a long run
Sunday is rebounder and walking
Take a walk whenever you have free time
My diet consists of 3 main meals and 2-3 snacks. All of my meals have a good protein source, like eggs, chicken, fish, meat, beans, or cottage cheese. Snacks are fruit with nuts or cheese, a protein bar or shake, or greek yogurt. Try to limit refined carbs (white bread, rice, pasta, chips). Load up on the veggies and water.

I hope this helps. My diary is open to friends.

Thanks for the reassurance everyone. I do tend to try and learn everything at once and not just take it one day at a time. I'm adding in exercise with Jillian's Front Side for Beginners and right now I'm off to learn what "macros" are because I've never heard the term before except on this site.

Macros are Protein- Carbs- Fat

I have mine set to 30%-40%-30% I believe I had to go 30% potein to get it to match my body weight. They all have to equal 100%