‘localhost’ or not ‘localhost’?

Yes, yet another gremlin who has a problem with the ‘localhost’! As follows…
Error establishing a database connection! This probably means that the connection information in your wp-config.php file is incorrect. Double check it and try again.
* Are you sure you have the correct user/password?
* Are you sure that you have typed the correct hostname?
* Are you sure that the database server is running?
I’m currently hosted at hostonce.com, although I’m using a subdomain (being hosted by a friend). I do have access to the CP, however, and set up a database – but I never got any options for privileges, etc. and merely entered a password to get one.
WordPress install dir: http://cecism.charmelia.net/blog
// ** MySQL settings ** //
define(‘DB_NAME’, ‘charmelianet’); // The name of the database
define(‘DB_USER’, ‘charmelianet’); // Your MySQL username
define(‘DB_PASSWORD’, ‘mypassword’); // …and password
define(‘DB_HOST’, ‘localhost’); // 99% chance you won’t need to change this value
Connection string information provided to me by the host:
DRIVER={MySQL ODBC 3.51 Driver};Server=192.168.14.188;UID=charmelianet
;PWD={insert password here};database=charmelianet;Option=16386
I have a feeling I am one of those unlucky few who can’t leave it as ‘localhost’, but what information do I need to put in in its place? Or, if this isn’t the problem, what have I missed? Apologies for being a complete novice. 😉
Thank you in advance!