You likely won't lose anything you'd notice if you replace that battery- most of your information (programs, files etc) are stored on your hard drive, which will keep everything safe when there's no power being fed to it. You can unplug a hard drive and put it on the shelf for years, and all the info will be safe and readable when you eventually plug it back in, which by the way is why you should should be careful about how you dispose of your old drive.
The BIOS (the basic set of instructions the motherboard uses, which is all that text-y gibberish when you start up your computer) may reset to it's original factory settings when you remove the battery, or it may not. The good news is, if the battery is toast, then it'll have likely lost any updates it had already in which case you likely aren't going to have any problems with it. The better news is, if you are like most folks, you've probably never updated the BIOS on your computer, so it won't matter if you lose any updates, because you probably don't have any to begin with! BIOS updates are different from the Windows updates your computer does automatically....
Basically the process is simple- unplug the case, press the power button to discharge the capacitors (safety first!) open the case, pop out the old battery and slide in a new one. Then close the case, plug it in and you are good to go.
Def