Well, if you want to keep the < > in there, but still have them displayed and not read as html, use the htmlspecialchars() function on the quote before you output it. Comes in pretty handy, so that way you don't lose anything 😉 However, if you still want to strip them, use an ereg_replace, such as:
$quote = ereg_replace("<|>|&", "", $quote);
Which will replace all < > or & with nothingness 🙂
As for the rest of it, that'll be quite a complex little application, try writing it yourself using the manual and other tutorials as a guide, and if you have a specific problem, make another post and we'll see what we can do! 🙂
Hope that helps,
Matt