MySQL Replication

Full chapter on replication:

http://oreilly.com/catalog/hpmysql/chapter/ch07.pdf

and also very detailed here:

http://downloads.mysql.com/docs/mysql-replication-excerpt-5.1-en.a4.pdf

how to setup master/slave?

This Replication: How to guide has both what you need to do on the master and the slave.

any other methods available to do this

There is also Multi-Master and Circular Replication for MySQL Cluster.