Audio Sample Rates and Bit Depth Explained

I've hear a LOT of confusion in the video world about sample rates and bit depth - both confusing them for the other, as well as just general confusion as to what each one refers to.  Most filmmakers have recorders, but many of them don't know which sample rate to select, or which bit depth to use!  

In this week's Friday show I hope I can clear up somewhat of the confusion without making things MORE confusing!