The construction of the fiber product is an important construction in algebraic geometry hence this question may have general interest for students.
If $\phi: A \rightarrow B$ is a map of unital commutative rings with $X:=Spec(B), S:=Spec(A)$ and $f: X \rightarrow S$ the induced morphism of affine schemes, we may for any point $\mathfrak{p} \subseteq B$ consider the image under $f$ , $\mathfrak{q}:=\phi^{-1}(\mathfrak{p})$. We get an inclusion of affine schemes (the inclusion of the point $\mathfrak{q}$ in $S$):
I1. $i:Spec(\kappa(\mathfrak{q})) \rightarrow S$
and we may ask: What is the fiber of $f$ over the point $\mathfrak{q}$? The answer is given by an exercise in Atiyah-Macdonald (Exercise 4.21). It says that the fiber is given by the following formula:
I2. $f^{-1}(\mathfrak{q})\cong Spec(B\otimes_A \kappa(\mathfrak{q}))$.
Your question: "But what does this scheme actually correspond to? Is there some simplification of this?"
Answer: You must do Exercise 4.21 in AM. Here you prove that this is the scheme theoretic fiber of the map $f$ at $\mathfrak{q}$. The inverse image scheme is the schematic fiber product of $i$ and $f$, and this is given by the tensor product of the rings $\kappa(\mathfrak{q})$ and $B$ over $A$.
In Hartshorne Theorem II.3.3 they prove that the fiber product $X\times_S Y$ of two schemes $X/S,Y/S$ is unique up to unique isomorphism, and the fiber product is constructed for affine schemes using the tensor product. Hence if $S:=Spec(R), X:=Spec(U), Y:=Spec(V)$, it follows there is a canonical isomorphism
I3. $X\times_S Y \cong Spec(U\otimes_R V)$.
Hence the formula I2
$f^{-1}(\mathfrak{q}):=Spec(B)\times_{Spec(A)} Spec(\kappa(\mathfrak{q}) \cong Spec(B\otimes_A \kappa(\mathfrak{q}))$
calulates the schematic inverse image of the point $\mathfrak{q}$.
More generally: If $\pi: X \rightarrow S$ is any morphism of schemes and if $s\in S$ is any point, let $i:=Spec(\kappa(s)) \rightarrow S$ be the inclusion of the pont $s$ into $S$. The fiber of $\pi$ at $s$ is by definition the fiber product $Spec(\kappa(s))\times_S X$.
Question: "I think I might be able to get the information I need from that answer, so thank you. Can I ask though, is it normal to take this long to grasp the basic foundations of algebraic geometry?"
Answer: If you do exercise 4.21 in AM and understand Theorem II.3.3 in Hartshorne you will get a better understanding of what the fiber product is.
For affine schemes it follows the universal property for the fiber product translates into a universal property for the tensor product of commutative unital rings. The exercise in AM establish a 1-1 correspondence between the prime ideals $\mathfrak{p} \subseteq B$ with $\mathfrak{p}\cap A= \mathfrak{q}$ and the set of prime ideals in $B\otimes_A \kappa(\mathfrak{q})$.