Via Jason Kottke, here is a useful article on how to make great photos using your point-and-shoot digital camera—by learning from the great photographers who shot film decades ago with even more limited equipment.
You can only learn so much from people who frequently work in ways that are impossible for you. What if there were truly masterful photographers who worked with cameras with all the limitations of yours and more? Couldn't they be role models? Luckily, there are boatloads of them: every documentary photographer working from the 1930s to the 1980s.
The basics? Learn to compose, let black be black, use black-and-white when appropriate, photograph near windows with natural light, and take lots of pictures, then edit—pick the best shots from the many you have. If you get really good, you might regularly capture the decisive moment in single shots like Cartier-Bresson, but that will take time.