How mysql locks tables for updates and inserts

Hello

I am trying to get a better understanding of how mysql locks tables during inserts and updates.

If one database connecting is writing/updating a record and creating a row-level lock on that record and another database connection then tries to access the same record:

1) can second database access the record even if it is for a select? I presume not
2) How long does it wait for the record to be released or how many retries does it have before it gives up. Can these properties be configured in some database variables?

Thanks