The fastest way to install a site is by using Drush. You can skip most of the other steps above too. Start with only the base of Drupal, which you can also get with Drush...
drush dl drupal --drupal-project-rename=example;
drush site-install standard --db-url='mysql://[db_user]:[db_pass]@localhost/[db_name]' --site-name=Example
It will create the database for you if the db_user above has the privileges to.
By default the UID 1 account is given an "admin" username and a random generated password that gets echoed in terminal during the site installation process. You can bypass this and set your own predefined credentials with flags added to the command:
In case you don't get any password echoed in terminal (might be the case of an earlier drush version) try using admin as username and password.
The installation profile used can be left out, it defaults to standard, or set to something else. Use drush help si to see more flags available for the site-install command.