I'm going to assume that you're setting up a brand spanking new forum, and are going through the installation/configuration process for that forum.
You will need to create the database in your cpanel, then you can provide those remaining fields to hook your forums up to it.
mysql is a good place to start.
Go to your cpanel, and scroll down to the database section. In there click on the "mysql database wizard" button. Then simply follow the wizard steps (they're quite easy). On the third step (priviledges) just tick the "all priviledges" button.
Once you have done these three steps your database will be ready to go, and you can fill in the details you listed above and get your forum going.
Note:
Your database name and database user name will be prefixed with your domain (e.g. if yourdomain_databasename, yourdomain_databaseusername).
You can check the details by clicking on the mysql databases link in the control panel.
Database type will be "mysql" (not sure on capitalisation)
server and hostname is indeed "Localhost"
I'm unsure on the port, but the default is 3306
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