Magento Installation issues in localhost

While installing magento in localhost, one must be assured that the default IP 127.0.0.1 points to the domain name with a (dot) instead of http://localhost only. This can be done by editing hosts file
which resides inside windows/system32/drivers/etc/ in windows(XP/VISTA/7).

This issue is for WAMP.

Change
127.0.0.1 localhost
to
127.0.0.1 localhost.localdomain


The next issue that is to be addressed is to enable MCRYPT and CURL extension.
In WAMP SERVER 2.0 it is very simple.

1) Click on WAMP system Tray Icon
2) Click on PHP and on PHP Extensions.
3) Click on PHP_CURL and PHP_MCRYPT to enable these extensions.
4) Restart WAMP.

and run the magento installation by typing http://localhost.localdomain/magento in the browser.