"Proper" way to wetsand and buff.
As other people have said, DO NOT try this if you're afraid of making a little mess. It takes a lot of practice and a good touch to do it well.
First, wash the car and go over it with a clay bar. Clay should be readily available at any autoparts store. The clay will remove any major debris from the paint; if you skip this step you will likely add more scratches. Rinse well after the clay bar.
Now the wetsand. DON'T try and do it to corners, edges etc. It takes a TREMENDOUS touch to do this right. Get some extremely fine sandpaper, I usually go for 2000 grit because I don't trust my hands with anything rougher. Get an old-fashioned sanding block to keep things flat. Get some water, either a nice bucketfull or continously running (i.e. hose). GENTLY sand, either wetting every few strokes or just letting the water run continously. DON'T overdo any section or you'll rip a good deal of the clearcoat off.
Get some mid-strength rubbing compound. Not the heavy duty crap - that was what the sandpaper was for. I usually start with the liquid 3m stuff and go over the spot two or three times. It's fairly fine, so it takes a good deal of effort. Use as you would use a rubbing compound any other time. Use a CLEAN towel, low speed buffer is fine. Again, CLEAN SOFT towel (terry is ideal).
Follow this up with extra fine rubbing compound, something like a swirl mark remover. Again, readily available at any auto parts store. This part I personally like to do by hand but a low-speed buffer is okay too. Again, do it GENTLY and with a CLEAN SOFT towel.
Next, theee glaaaazeeeee. Since this whole process essentially took a small layer off the clearcoat, you need to shine it back up. Most people prefer Meguiars Show Car Glaze - I ran out of this stuff and used the Deep Crystal Polish. Any sort of powerful glaze is good. DO THIS STEP BY HAND. A buffer will result in buildup and will likely be difficult to remove.
Then wax. If you need a tutorial on how to wax .............. buy a Kia.
If you have a junk car around to practice on, DO IT. I used my old accord to practice detailing crap back in the day and I got fairly good at doing my moms Denali. The darker the paint, the more your mistakes will show up.
Some additional tricks; If you have any touch up paint, put it into rock chips and deep scratches BEFORE performing the wetsand. Let it dry for at least a 24 hours, 48 is better. Then do above process. The finish won't be perfect, but it looks a lot better than bare metal.
Hope this all helps - Again, PRACTICE FIRST, I'm not taking any responsibility if you screw up

You can live in a car but you can't drive a house.