ive heard people sit at home ,spend about 2 hrs at home & earn good money by webhosting & maintain blogs for websites,sell their spaces for ads & earn money. im a student lookin for such jobs. can anyone tell how i can do this, how can i get in touch with webmasters? plz helppppppppppppp!

Yeah, You have heard right.But it is not as easy as it seems to be.To start you have to spent a lot of time.I am giving a brief overview of this.You can create a website and advertise through it.There are many kind of advertise such as Pay-per-click,Pay-per-action,Affiliate etc.Google,yahoo support these type of advertise.There are also others like bidvertiser,Kontera etc.All they allow to put their ads free.When people view the ads or click the ads or buy something through ads the webmaster earns a commission.For Selling ad space you have to have a pretty popular site where lots of people visit everyday.So you have to build a good and rich site.It takes time.But you can start slowly and gather knowledge on it.Check my profile for details.