What is the best way to store, and prepare fresh garlic?

In my endeavor to learn to cook, I have discovered fresh garlic. It is just so much more flavorful then the prepared stuff. Now I have a couple of questions. First, how long does fresh garlic actually stay fresh? How should I store the fresh garlic? Even if I put it in an airtight container it gets fragrant rather quickly and the odor fills the kitchen. Finally, what is the best way to prepare the garlic? I have been peeling off the outer layers of the clove and pretty much relying on a garlic press. Is this the best way to prepare it? What are some other ways that are more appropriate?