I’m having the exact same problem, only I don’t understand what any of you said about this whole mysql thing. I’m afraid my knowledge of the inner workings of mysql stops after I punch in the appropriate names and usernames. I have installed a previous version of wp without any problems, as well as multiple other blogging tools, but for some reason, this newest release is not workings.
I am absolutely certain I have the correct hostname, user, local host and password, and I am also absolutely certain that the database exists, and is functioning properly.
Thoughts?