A query for techies....

I've been experimenting a bit with this newfangled BitTorrent thingie, and I have a question for the techno-inclined:

What do I do with KVCD files, and how to I convert them into something that is, er, watchable? (Yes, I have Googled this, but none of what I've found makes sense to me. I need someone to spell it out. Slowly. Maybe even with pictures. In crayon.)

UPDATE: After some info thrown my way by Mary, and after some subsequent tinkering around based on that info, I figured out what to do. Thanks, Mary!