Time Capsule/Machine: Accessing Files

I hope this is the right topic thread and I hope I can ask this coherently.

I just installed Snow Leopard and a new Time Machine today. How do you access files back and forth? For example: say I wanted to take all of my iPhoto and iTunes files and move them to Time Capsule so everything is cleared out on my MacBook, then, when I wanted to add things to my iTouch, am I able to pull them from Time Capsule or do I need to leave them on my MacBook? Am I able to put everything on Time Capsule and remove it from Macbook? If that's possible, am I able to move it back? Hopefully this makes sense!!!

Thank you!!!