Hi Legend,
You remind me of my old friend, Neil Addes. He began a bug collection years ago, when he was nine. Now it is huge, and he even has a cellar full of them.
I am not a collector myself, but I know that Neil got his supplies from a local hobby shop initially, then later switched to an online site somewhere on the web. You know, mounting boards, pins, labels, etc. He even has some of his more prized collections mounted in glass frames and placed on the wall in his den.
Neil just picked up most bugs with his bare hands. However, he told me some bugs had a terrible scent when picked up, that was hard to get off...sorta like a skunk. So, in that case he just used a long handled paint brush and would "whisk" them into a bag or bottle.
I don't know much about killing them, but I do know that Neil had some sort of chemical that he used, placed on cotton and put in the bottom of a bottle, with a perforated piece of plastic on top of the cotton. He would place the bug in the bottle, put on the cap, and then go about his usual business. Then he would come back later and remove the dead bug and mount it.
I just did a quick little search for you and came up with (thousands actually) quite a few websites devoted to bug collection, that you might find interesting. Here they are:
http://www.hometrainingtools.com/insect-collecting-supplies/c/140/
http://educationalscience.com/entokits.htm
http://www.ehow.com/how_2042260_put-together-bug-collecting-kit.html
http://www.bohartmuseum.com/insect-collecting-kit.html
I remember that when Neil started out collecting bugs, he knew nothing about them. But, his mother gave him a big insect book for Christmas and he used it well. He copied down the genus and species names, and carefully printed out labels for each bug. Some he had trouble with, since he thought they were one type, but as it turned out, they were a close resemblance to another "cousin" of the same size and appearance, so he learned to be careful!
He also learned as he went along...
Now Neil, like me, is in his late fifties. He has traveled to Costa Rica, Panama, Brazil, Ecuador, Canada, Indonesia, Japan, and many other countries looking for special insects for his collection. He is a member of several entomology organizations, and has been approached by other collectors and even museums for information or specimens.
I hope this information helped you out and I hope you enjoy your new hobby!
-Jeeem-