is it possible for me to make a slide show, nariate it and also have music in the background? Anywhere I can go to get some information on how to do this?
I think so yes, there is a audio track for the "video" since PhotoStory does allow the importing of video files and a audio track for music/narration.
You will need to be in the timeline mode to see those tracks, then it becomes clearer what you need to do, so you might need to refer to your manual for that.
One track you can use just for the music and one for the narration. That should work fine.
I would suggest using the audio editing software built in to Photostory (see File>Additional Programs>Magix Music Editor...) to add your voice over to the soundtrack. If you record your comments using a mic on your computer, you should be able to "mix-in" your comments into the soundtrack.