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Exactly how you share your single DSL line depends on the operating system on your computer, and recently, whether or not your DSL provider is using PPPoE. With a regular DSL line, with a fixed or dynamic IP address, and microsoft windows, if you wish to share web browsing access but have some flexibility to add ICQ and play multiplayer internet games, then you can use one machine as a gateway, and run a NAT (network address translation) software product like Sygate, or similar on that machine. Current versions of windows 98 even come with ICS, which is a microsoft NAT implementation built-in.
Your private network IP addresses are allocated from the IP ranges internationally reserved for private use (10.x.x.x or 192.168.x.x) and your NAT equipped PC with two network interface cards, functions as the gateway to the internet.
NAT re-uses a single public IP address by allocating unused port numbers for other computers on your private network. NAT also is by default very secure, since it does not allow any incoming connection requests that were not part of a conversation you had initiated, but it can be problematic to setup some network intensive programs over NAT without reading manuals and consulting the net.
Finally, you could buy additional IP addresses from your DSL provider. Most standard DSL solutions will allocate up to 255 IP addresses over the one line.
Also read About DSL for lots more information