KVM is a wonderful suite for constructing and playing with VMs. It has enough power for actual production environments and is easy enough to use that a regular user can use it to learn more about visualization. It is FOSS and I use it a great deal.
Get into root
su
Type in root password, then type
yum install kvm
Confirm the installation by typing “y” when asked. Then install libvirt
yum install libvirt
You are really going to want a gui so install virtual machine manager
yum install virt-manager
Under applications, system tools (top icons) select virtual machine manager
I received an error about libvirt not running so I closed it and went back to my root terminal and typed
/sbin/service libvirtd start
Then I reopened virtual machine manager and it works fine. Make sure to exit out of root by typing
exit