I've done a lot of problems before but I am trying to get a really basic definition of kernel so that I may apply to any possible given question that I may be presented with.
Would I be correct in saying that the kernel (of a homomorphism) is basically what I can multiply any given function by to get the identity?
Yes, sort of. The kernel of a group homomorphism $\phi:G\to H$ is defined as $$ \ker\phi=\{g\in G:\phi(g)=e_H\} $$ That is, $g\in\ker\phi$ if and only if $\phi(g)=e_H$ where $e_H$ is the identity of $H$.
It's somewhat misleading to refer to $\phi(g)$ as "multiplying $\phi$ by $g$". Rather, we use the language "applying $\phi$ to $g$" to emphasize that $\phi$ is a function between groups not an element of one of the groups in question.
Example. Note that $\Bbb Z$ and $\Bbb Z^2$ are groups under addition. Moreover, the identities are $e_{\Bbb Z}=0$ and $e_{\Bbb Z^2}=(0,0)$.
Let $\phi:\Bbb Z^2\to\Bbb Z$ be the group homomorphism defined by $\phi(a,b)=a+b$. Then $(a,b)\in \ker\phi$ if and only if $\phi(a,b)=0$. That is, $(a,b)\in\ker\phi$ if and only if $a+b=0$. Hence $(a,b)\in\ker\phi$ if and only if $b=-a$.
This proves that $\ker\phi=\{(a,-a):a\in\Bbb Z\}$.
As noted in the comments, kernels arise in lots of other contexts. If you're interested, see the "mathematics" section of the wikipedia entry for kernel.
If you're feeling extra ambitious, you could learn category theory and see how the kernel of a group homomorphism is a special case of an equalizer.