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Taking a home inventory isn't really hard, it's just time consuming. It's also extremely important; a good inventory will speed up the insurance claims process and ensure your insurance takes care of everything you lost. (You do, of course, need the insurance.)
Many tools can guide you through taking your inventory and storing it (we'll list some below), but the basics are pretty simple. You'll want to take pictures of all your stuff. (It's also a good idea to snap pictures of serial numbers of your gadgetry.) If you've got a video camera, you can simply walk through your home and film every room for a good and simple start.
It's also very important that you store your inventory outside your home in some form.
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A nightly dump of my delicious bookmarks before my OCD kicks in and they're completely redone with tags and notes and such.
Finished product