The most popular way to manage python packages (if you’re not using your system package manager) is to use setuptools and easy_install. It is probably already installed on your system. Use it like this:
easy_install django
easy_install uses the Python Package Index which is an amazing resource for python developers. Have a look around to see what packages are available.
A better option is pip, which is gaining traction, as it attempts to fix a lot of the problems associated with easy_install. Pip uses the same package repository as easy_install, it just works better. Really the only time use need to use easy_install is for this command:
easy_install pip
After that, use:
pip install django
At some point you will probably want to learn a bit about virtualenv. If you do a lot of python development on projects with conflicting package requirements, virtualenv is a godsend. It will allow you to have completely different versions of various packages, and switch between them easily depending your needs.
Regarding which python to use, sticking with Apple’s python will give you the least headaches, but If you need a newer version (Leopard is 2.5.1 I believe), I would go with the macports python 2.6.