Subbed anime is anime in Japanese, but with English subtitles. Dubbed anime is anime with English voice actors.
My first anime was a dubbed - Death Note. Then after that, I watched like the first five episodes of Black Butler dubbed. The rest I watched subbed. When you first start out in anime, you should give dub a try. In my opinion, it is easier to find subbed anime. This is what I mean: New anime that come out like in 2015 are going to be subbed first. If you want to watch that anime in dubbed version, you would have to wait until it is released. But it is just an opinion.