Contacts, Accounts, Potentials?

Contacts, Accounts, Potentials?

I'm new to CRMs and I'm a bit confused. I uploaded my entire Outlook contact list. Some of them are possible clients, some of them are current clients and some are just contacts.

How can I go through and define this information without having to re-import the same data 3 times, then go through and delete the unnecessary items? Is there a way to convert a Contact to an Account or a Potential to a Contact or Account?

Sorry if this is all elementary stuff, but I don't see any simple way, like a button in my contact that says "Make this Contact an Account".

Thanks!

Paul

P.S. I was also unable to create an account here - it just says "You have exceeded the number of login attempts..." someone else posted the same error.