Honestly, I think the only difference b/t the mens and womens nair is that the mens doesnt come in a pink bottle so you dont feel so embarassed in the checkout line

As for waxing, its when someone puts hot wax on there and then sticks a piece of (I believe...) paper on it. When the wax has stuck to your hair and the paper, they rip the paper off. Off comes the hair, as well. Supposed to hurt a bit, but the hair stays gone longer than shaving and you dont get razorburn/ingrown hairs.