We will switch to the Developer Console, as we are in the Lightning Experience environment. There are no issues, whether you're in Salesforce Classic or Lightning Experience; we only require the Developer Console:
In the File menu, click on New. You can choose any development case, such as Visualforce Page, and Visualforce Component. Apart from these, we have Lightning Application, Lightning Component, and more, so let's create Lightning Component:
Provide a name for your component. As you can see in the following screenshot, we also have some optional configurations that help the user to use these Lightning Components, such as Lightning Tab, Lightning Page, and Lightning Record Page, Lightning Communities Page, Lightning Quick Action. As per the requirements, we can choose any of these options or else we can configure it later. For now, we are keeping these options deselected because later, we are going to discuss how to configure the Lightning Component; then, we will understand what the interfaces are that we are going to implement. You can also provide a description, as shown in the following screenshot, and then click on Submit:
In the following screenshot, the first component is <aura:component>. The aura is a standard namespace, under which some standard aura components are available. So, <aura:component> is the outermost component, which means it should be the first component in a Lightning component. On the right-hand side of the following screenshot, we have a Lightning resource bundle:
