A'salamu alaykum (Peace be upon you)
Wudu is an Arabic word, and in English it is called Ablution. They are the same thing. We do it because it purifies us, externally (from dirt, and impure substances) and also internally (from sins that we commit with our limbs). It is done everyday, yes. Usually we do it five times a day, before we pray, but it is not necessary to do it five times. If you have broken your Wudu, you must redo it before you can pray.
So here is what invalidates your Wudu:
1. Any discharge from the front or back passage like urine, stools, passing wind, etc.
2. Sleep, unconsciousness, intoxication, etc., or losing one's mind with insanity.
3. Touching your private areas (between the legs).
4. Eating camel meat.
When you have done one of the above, you have to redo your Wudu. If you have not done any of the above, your Wudu is in tact until you have done one of the above.
It is not different for men and women. It is done the same way. One thing you should know when you are learning to do Wudu, there are Fard (obligatory) parts of the Wudu which must be completed for it to be valid, and there are also Sunnah (practice of the Prophet Muhammad, peace and blessings be upon him), which can also be done for more reward but if they are not done your Wudu is still valid, as long as you have done the obligatory parts of it. It is better to do the Fard and the Sunnah parts, but just Fard is sufficient. I hope this did not confuse you. Please ask more questions.
Ghusl (full body bath) is different than Wudu and must be done at other certain times (after the menses, after sexual intercourse with your spouse, etc.)
Allah knows best.