There are lots of things that determine credibility of keywords.No wonder you are a newbie,the keyword with high adwords CPC is picked most often by newbies.
When Advertisers are paying high amount,naturally there is some competition.
If there are 10 strong websites with good domain trust,then most likely you wont even get in the top 10 in short time.Without Top 10,you aren't going to make that good money. So everything depends from one keyword to another.
I would suggest you not to go after CPC and do some more research of your competitors and then decide whether to go with the keyword or not.

Really it depends on your competition.

A term with only 1000 competing pages on Google may be much harder to rank for than a term with 1 million competing pages on Google if the pages in the 1,000 competing pages term is optimizing mainly for the keyword at hand while the 1 million competing pages is optimizing for something else or has a very poor back linking strategy.

For example if site A is ranking for the term "term x" with 2,094 competing sites but each of the top 10 websites have high PR, and strong back links then it would take much more time to rank for that than if another site, Site B was ranking fro the term "term y" with 1,000,000 competing pages but the pages that ranked for term y were either targeted towards another keyword or were very weak sites.

To get into all of this you'll probably need more then 'free tools'.
You'll have to do a lot of research, and for some results you'll need a paying tool/software..

Is anyone advertising on Google when you do a search for that keyword?

What about competitors? Are they well know sites, are these sites about that keyword, is the domain name for that keyword available? How many links points to them, from where?
Are they listed in Yahoo directory, Business.com, DMOZ etc?
Are they really targeting that keyword? Do they have in in their domain name, or in url, title, meta description, on page, anchor links etc...

OK, that's a just a part of 'soc' .... And I believe for no keywords anyone can say that it will or not work... You just have to try it out and see...
I'm happy when I get $0,30+ click

For something this competitive you'll have to do a lot of manual research just like webtrix has mentioend above. If the soc value is less than 50 then go for it.

Personally, I think you may be a little out of your depth with such a tough keyword. What I woudl suggest is to try and target something a little less competitive and also develop this project on the side, you never know it may be really straightforward. Just dont take the numbers at face value or otherwise we'd all be making serious money.

Good luck on your endeavours, keep reading, keep learning and keep taking action
Zaheer

Yes, I agree with webtrix, you need more than 'free tools' to really be sure about your keyword researches.

However, Keyword Samurai has this 30-day challenge program that allows you to use their amazing keyword samurai tool free for 40 days. That should be time enough to find at least one really profitable key-phrase.

MNF is something I would use to complement Samurai. What I like about MNF is its SOC value feature, that's all. Had Market Samurai just added an SOC column in its keyword tool, it'd be one perfect all-in-one tool.

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Yes, 30daychallenge.com is great place for beginners.
And Market Samurai has SEOTCR column, quote: "a low score can indicate low competition in market", I guess that's their 'SOC' column.

One other thing is how much clicks certain keyword gets; keyword may be valued at $5 or $10, even $25 but if it gets no clicks, or 1 or just 2 a day, that's something I wouldn't go for...

Even though you are new at this game, if you can find an "exact" match domain name with a .com,. org. or .net with this high of a click, you should get it. Most people can afford $10 worth of experience. Don't be dissuaded by people telling you that it is out of your league. Sometimes you can put the site up and let it simmer. If it is an exact match, it will climb eventually. You may just have to wait a year or so.

Remember, you can keep the domain name forever...just pay your $10 a year. Domainers look for these things and will approach you occasionally.

Free tools work great. Just use to utilize them effectively. You won't learn unless you start somewhere. That is what creates success.....dilligence.

Good luck and keep learning!

I downloaded market samurai
I will give you details about competition ,search volume ,clicks and every thing
good domains are available
this the competition details
(sorry they didn't allow me to post the image or link so merge those lines and view the screenshot)
img41.imageshack
.us/i/screenshotgg.jpg/

BTY : good thing that I'm a pharmacy student , this keyword is related to medical niche.
market samurai told me the following(on daily basis) :
searches : 730
seot : 306 (clicks that first search result get)
competing sites : 28500
all in title pages : 13000
seotcr : 46 %
100 % advertisers competition
cpc : from google 25 $ and from samurai 37 $
so this keyword have clicks and searches
In my opinion no first page result have enough information about the topic
all first 7 results are single pages or posts not even categories
some of this posts are not even dedicated to the keyword
no dedicated site to the topic within the 7 first results
if any other details required just tell me
market samurai gives details about backlinks
please this is my first site so I will appreciate it if you help.
and I will appreciate it if you share your criteria

wont any one help?
should I start writing my content.