Soluble means a substance will dissolve in water, whereas insoluble means it will not dissolve appreciably. If an insoluble product is created in an aqueous solution, it will precipitate out of solution as a solid.
Solubility Rules
Mainly soluble:
all nitrates & acetates
all halogens, except with silver, mercury and lead
all chlorates, except with silver, mercury and lead
all sulfates, except with calcium, strontium, barium, lead, mercury, and silver
all chromates, except with calcium, strontium, barium, lead, mercury, and silver
Mainly insoluble:
all sulfides, except with groups 1 & 2, and ammonium
all hydroxides, except with groups 1 & 2, and ammonium
all carbonates, except with group 1 and ammonium
all phosphates, except with group 1 and ammonium