You'll need a scan or high quality picture of your ID, and a picture of yourself holding that ID so that both your face and the ID are clearly visible (the text on it can be read). Once you have that you can sign up here. Confirmation is usually fast, although I never got a confirmation email-- I just checked an hour later and it was done.
Anyone who appears on cam with you needs to be verified. This rule is this most strictly enforced.
Chaturbate does have some unintuitive rules that you should be aware of, even if they're not always enforced. The more noteworthy ones are:
Thinking of trying it out? Don't be shy: in July, 159,295 people did. (Granted, a lot of them never logged on again, but that's still a lot of people.)
If you don't have a webcam but want something a little higher quality than a laptop, you're in luck, because we have a guide to using a phone or tablet as a webcam. If you ever start broadcasting seriously you'll want a real webcam, if for nothing else than freedom of movement, but if you're just starting out, a phone or tablet is pretty good quality (it's the same quality as when you take videos with it).
PS: Remember that whatever you choose as a username is what people will call you in chat. You're absolutely free to name yourself filthycumslut92, as long as you don't mind people calling you filthycumslut92. A lot of popular Chaturbate cammers have ended up changing their names because of this-- however, Chaturbate won't even consider changing your username if you have less than 10,000 followers, and even then sometimes they won't, and even then they warn that it's a one-time thing. (As a programmer and site admin myself, I can imagine that doing it is a pain in the ass.)