credit crunch?

this is the first time in my adult life i've witnessed a recesion. for about two years now i've been hearing about it but i'm only starting to feel the efects now. i'm scared, most of all because i've no expierience of this happening before. i don't know how bad it is in comparison to other recesions, i don't know how loing it will last, or whether it will get worse, or what if anything can be done to fix it. can anyone shed anylight on the sittuation?