Before you could learn to read, you had to learn the alphabet. So before we can tackle reading 4,000-year-old inscriptions, we have to learn the "alphabet" of the ancient Egyptians. Contrary to popular belief, the alphabet was not invented by the Greeks, or the Egyptians. The alphabet was invented centuries before in Sumer. The ancient Mesopotamians used a complex system of wedge-shaped symbols to keep records on clay tablets. Egyptian hieroglyphics descended from this system.
Additionally, recent discoveries of clay tablets indicate "...Egypt's use of a written language at an earlier historical date not recognized previously" (Bunson). So hieroglyphics may be even older than we thought. While several symbols represent words or ideas by themselves (called logograms), twenty-four characters act as phonograms, or symbols representing phonemes, which are the the smallest divisions of sound (i.e. "mm" or "sh") (Cook). Other glyphs represent more complicated sounds, but for our purposes, we're going to stick with the basics.
A table of the phonograms is on the left. To practice using the system, try to figure out your name in hieroglyphics. Remember to focus on the sounds the syllables make rather than the letters that make up the syllables. For example, say your name is John. The sound closest to the English "j" is the hieroglyph for "dj", the cobra. The next two letters are "oh", but what sound do they make? Phonetically, you pronounce them as "ah". So, use the "ah" hieroglyph, the vulture. Finally, finish the name with the "n", the water ripple. 
J AH N
Now, in ancient Egypt, it was extremely important to have your name surrounded by a protective rope, or cartouche. I'll discuss cartouches in later posts.
Sources:
Bunson, Margaret. "Language and Writing in Ancient Egypt." Encyclopedia of Ancient Egypt, Revised Edition. New York: Facts On File, Inc., 2002. Ancient and Medieval History Online. Facts On File, Inc.
Cook, James Wyatt. "Hieroglyphics." Encyclopedia of Ancient Literature. New York: Facts On File, Inc., 2008. Ancient and Medieval History Online. Facts On File, Inc.