Problem with PostgreSQL database connection

Hello, On my Windows 7 machine, I run PostgreSQL databases, but I can't add a server to create my databases. As an address I use 'localhost' but can't connect, resulting to the following errors:
pgAdmin III
An error has occurred:
Error connecting to the server: FATAL: database "db" does not exist
pgAdmin III
An error has occurred:
Error connecting to the server: could not connect to server: Connection refused (0x0000274D/10061)
Is the server running on host "127.0.0.1' and accepting
TCP/IP connections on port 5432?
Keep in mind that I have configured my firewall to accept connection on port 5432.
