Ill pitch in my 2 bobs worth on the processing side of it. Although I agree with Mark, with the levels and curves you should try not to use the curves feature till you have fully stretched your data.
What are you trying to do?
Dynamic range. Bright to dark areas, M42 Orion nebula has a massive dynamic range from faint whispy's to bright enough for the naked eye to see.... Stars are a large dynamic range
Linear Vs Non Linear stretching. Levels = Linear, Curves = Non Linear
This is how a lot of more advanced images keep star colour (that and having a big pixel well depth more photons before the well floods (turns white).
If your using Photoshop I know you can work with the RGB or individual R G B.
Step 1. Levels
Iteratevely clip the black point to the start of the histogram (left hand side like doug said. My own process i don't take it right to the edge as you may loose some really faint data a small tail is desirable in my eyes), Leave the white point alone for most case's, and the middle point slide about 1/3rd closer to the start of the histogram from the right hand side. As a general rule i will do this iterations 4-5 times but you know when your done, the histogram will not change any more. You have now streched your data to fill the full gamut (range of colours).
Step 2. Curves
Use sparingly this is non linear, eg you can hold one section while changing the other. Highlights, Mid tones, shadows, RGB or R G B, this is a good way to boost certain colours while keeping the others the same. play with it get a feel for it and then use it like a feather not a black smiths hammer.
Black point and White point, If you change your black point (clipping) then you will change the value of the pixel under that point to zero. eg, the pixel has a value of say 100 ADU (it escapes me right now but its basically the count of pixels in the pixel well) if you change the black point to clip everything under 900 ADU, the pixel with 100 will be zero essentially turning it black.
Be aware of the colour of the back ground, HLVG is great for removing Green from a image, it is a photoshop plug in, though it only works with 32bit.
Once you master the levels and curves you will find your white balancing and colour reproduction will be very good and your star colours will stay really nice!
Hope that helps
Brendan