Aahhhh! A wonderful question! I will be glad to help you out, mate. Let's begin:
One thing you have to keep in mind when you want to rip DVDs is the copyright protection written onto the disk. If you are using this DVD as a
backup of something that you already own, then you can pick up one of these programs to circumvent the copy protection.
DVD43
or
AnyDVD
Once you have that in place, then we can look at the ripping tools. There is a whole slew of different programs out there, some free, some paid, and most of them are horrible. I have experimented with many of them, and the current one that I use is the ImTOO DVD Ripper Platinum 4. They have a new version (#5) out now, which you can pick up here:
http://www.imtoo.com/dvd-ripper.html
Now, ImTOO is
not free software, but there might be
ways to grab it for very little...
Another ripping alternative is a program called HandBrake. It is natively free, and supports Windows, Mac, and Linux. However, I am not sure if the output of the video will be playable on the PS3 (I have not tried to do that). It may be worth a shot.
http://handbrake.fr/
If you ever want to get into exact DVD archiving and backups, we can have a fun talk. ;-)