A point light is a single light source that emits in all directions like a lightbulb. You set the position, color, and attenuation, which is the amount of a decrease in light over distance. The range is the maximum distance that the light will illuminate your 3D objects.
D3DLIGHT9 light; light.Type = D3DLIGHT_POINT; light.Diffuse.r = 1.0f; light.Diffuse.g = 1.0f; light.Diffuse.b = 1.0f; light.Position = position; light.Attenuation0 = 0.1f; light.Range = range;