Question about creating second account.....

Sorry for the n00b question, but I've decided to purchase a second account and I don't like walking into things blindly.

1. Do I need to use a different email address and password, or can they be the same as my first account?

2. I've alreay purchased a second copy of the game. Do I have to install it, or do I just go into my existing Guild Wars and click the "create account" button in the log-in screen, and then enter the new CD code? Doing that won't write over or mess with my first account will it?

Sorry again for the n00blet questions, I'm not as tech savey as I used to be. I just don't want to do something stupid and screw up my first account, lol.
Thanks a bunch in advance.

1) The email address must be unique (i.e not used before) for the new account. The password doesnt matter.

2) You simply create a new account the way you have stated, there is no need to reinstall the game.