The basic polishing tools. http://www.amazon.com/Meguiars-G3300-Brilliant-Solutions-Restoration/dp/B004EB12FS
Meguiar's ultimate compound, high quality foam pads, microfiber.
Work in the polish with the foam pad until the polish is almost disappeared. The wipe with a microfiber. If the pads get saturated with polish, then use a fresh clean foam pad, because it cant work out the scratches with a saturated pad. I recommend re-washing the car after that and then applying wax.
If you need to do extra duty work, like taking care of whole body panels, then get a Meguiar's G110v2 machine polisher.
I found one of the best detailing essentials kits last weekend for $20.
Meguiar's Brilliant Solutions Paint Restoration kit Includes:
>Gold Class shampoo, > >Clay bar > >Ultimate Compound > >Quick detailer > >Gold Class wax > >foam applicator pad > >(2) Supreme Shine microfiber towels
These are some of the best quality products that meguiar's offers, and pretty much 90% of what you need to detail a car; all except a hose, a bucket, wash mitt, and some water.
For wax I use Meguiar's Ultimate Paste Wax. It's a synthetic formula, good protection, and great look. It also includes a foam applicator pad and a small microfiber towel. $20
The towels I use are Meguiar's Supreme Shine microfiber towels, and a waffle weave drying towel.
It's important to get good microfiber towels that are at least 20% - 30% polyamide, 70-80% polyester. I've found some of the no-brand microfiber towels they're selling at autozone these days are 100% polyester and they are horrible at absorbing anything, so be aware of bad microfiber products.
I also use Meguiar's hand and machine polishing products for cleaning the paint and removing swirls and scratches.
For hand polish I use Ultimate Compound and a little yellow meguiar's applicator pad, these were included in the Paint Restoration Kit. Requires a bit of elbow grease and lots of time and effort. It contains polishing oils and some light duty abraisives to remove swirls and also fill in some blemishes.
For machine polishing I use a dual action polisher, Meguiars DA Microfiber Correction System Kit. It is so easy and safe to use even for novices, I highly recommend this product if you're serious about keeping your car clean and swirl free. I'm actually using the Starter Kit with an older version, The G100 polisher, and upgraded to the new microfiber cutting and finishing system. Cost ~$150-350 depending how you build your kit. You can buy a used older porter cable 7424xp / meguiars g100 polisher that is compatible with this product and upgrade the backing plate for cheap, or buy the fully updated G110v2 polisher. You'll get the same result because they are the same product. Fantastic cleaning and polishing results with this system.
Additionally here's a review I wrote yesterday for all these products: http://www.reddit.com/r/AutoDetailing/comments/27nkly/meguiars_da_microfiber_correction_system_reviewe/
I recommend this kit, I just did it this weekend and the paint looks brand new.
The paint was starting to turn "old Miata pink" so I knew it was time for a wash! I bought a Meguiar's paint restoration kit and a wash mit. It looks great, but it was a ton of work to do the whole kit by hand! While I was polishing off the wax a guy wandered over and told me he goes by "Gay Tony" before offering me his phone number. Hairdresser car! Since it was Miata Sunday I also put some fresh black paint on the windshield wipers, tightened the throttle cable, and epoxied a bit of plastic that I broke in the footwell last week.
You've got all the necessary car wash sponges and mitts, now get some quality soaps, waxes, etc.
I recommend this Meguiar's "Brilliant Solutions Paint Restoration Kit" which is about $25.
http://www.amazon.com/Meguiars-G3300-Brilliant-Solutions-Restoration/dp/B004EB12FS
Includes: Car wash soap, Car Wax (Meguiar's Gold Class), Ultimate Compound (for scratch removal), Quick detailer, 2 microfiber towels, 2 foam applicator pads, and a small clay bar.