I can teach you but i if you intend on planning games on the PSP you DONT need a enormus memory Card!!!
So you dont have to waste your money. You can do it with a USB connected to the computer.
Isn't there a way to restore it to factory settings?
Yeah, but who wants to bring a PC with them everywhere they go? The whole point of a PSP is that it's portable.
That is the latest firmware. At this point in time you cannot install custom firmware or play Homebrew on a 3.95 PSP unless you have a Pandora Battery.
If you had older firmware, it would be easier, but you'll just have to get your hands on a Pandora Battery such as Quiky offered.
Since the PSP was free I might just suck it up and find a couple used games to live with. I just wish there was a way to get a better internet browser.
I don't think the browser can be much better on the PSP, it has very limited memory and processing power.
As for the Pandora battery, that's the way I installed custom FW, but I bought an off the shelf version by Datel, called the Tool Battery.
I have IRShell on my PSP too, and the Applecor Mac XMB mod, so it looks very nice. I also bought the camera when it was first sold in the UK, pretty good until I bought a camera phone.