You need an approved google account for them to place ads on your website. However if you have one through your hubpages account, use the same one for your website so that the earnings all add together.
Depending on how you design your website will depend upon how you place the google ads on. You may have to add in the code yourself where you want them located, or if you use something like Wordpress for your website, google now has a plugin that enables you to add in the ads simply.
Google pays per click, so everyone who clicks on an ad will bring in payment. However they do monitor your account to ensure you are not clicking them and also that you are not getting a friend to click loads of ads constantly. This will cause your account to be closed.
Once you have your website, you can use other google tools to monitor traffic to your website. Also market your site to friends, through Facebook etc to draw in more traffic.
It takes time and work, however if you are getting traffic in to your site, ads will get clicked and you will earn from them.
I always say to people if you cannot earn much through google with your website, you are unlikely to earn anything from other affiliate schemes. Google is one of the easiest to get going with using advertising on your own website
Not sure how much you know about website and design, or how far along the process you are. I have a useful hub on the basics of getting going if you are interested:
I will be adding more soon as well about websites