Sorry if this has been asked a gazillion times - I have had a look through a few pages but cannot find an answer. I'm clearly a plebeian when it comes to hardware matters, so I would appreciate some clear advice (in layman terms if at all possible)

Using a program called CPU-Z, this is my PC info:
CPUProcessor: Intel Pentium D 925
Specification: Intel? Pentium? D CPU 3.00 GHz
MEMORYDDR2
Channels #: Single
Size: 3072 MBytes
GRAPHICSNVIDIA GeForce 7600 GT
Code Name: G73
Revision: A2
Technology: 90 nm
ClocksCore: 560 MHz
Memory: 700 MHz
MemorySize: 256 MBytes
Type: DDR
Bus Width: 128 bits
The CPU was obsolete practically from the first one of that series that Intel tried selling, which wasn't nearly as good as a Pentium III running slower. AMD's K7s and K8s made them look silly, those were so much better.
That GPU is less obsolete, but is still extremely weak because it is so old (over six years now), The real requirements are
Corrected Skyrim Minimum Requirements
* Windows 7/Vista/XP PC (32 or 64 bit)
* Processor: Dual Core
2.3 GHz C2D or equivalent CPU
* 3GB System RAM
* 6GB free HDD Space
* Direct X 9 compliant video card with
512 MB of RAM
(and
sufficient performance to actually put that VRAM to use) * DirectX compatible sound card
* Internet access for Steam activation