The other posts are somewhat correct, if incoherent
You need, at the very least, a root partition ( '/' ) and a swap partition.
The swap partition should be about 2x your ram size (early 2.4 kernels have some issues in managing swap space).
I would reccomend something like this:
/ 1 to 3 GB depending on how much software you intend to install
/boot 17 to 20 MB
<swap> 2x ram
/home the rest of your free space
Of course, partitioning strategy is a very debatable issue, but this will work for you.