How do you lookup a value and return another cell in Excel?

Sure, here's a description in the tone of a questioner, with a word count of no more than 300: "Hey there, I'm having a bit of trouble with Excel and I was wondering if you could help me out. I need to look up a value in one cell and then return the value in another cell based on that lookup. Is there an easy way to do this? I've tried using the VLOOKUP function, but I'm not sure if that's the right one for what I need. Can you give me some guidance on how to go about this? Any help would be greatly appreciated!