OK.. I noticed smoke coming from my bedroom wall outlet.... I went outside turned off what I thought was the breaker to that room.... Come to find out that breaker had already switched itself off... Anyway I go and take the electrical outlet out and notice that the (white wires) had almost completely burned the side that it was on... I put electrical tape on all four wires then went to the breaker box to put all the switches to (on)...not only didn't the lights come on in the bedroom I was working on...that side of the house has no power!!!!..... Please help!!!
Call a licensed electrician, and leave the breaker off until they get there.
Smoke from the outlet means something got too hot, which means there was an overcurrent situation (e.g., a short). Your breaker did its job by tripping, but you should not turn the breaker back on until you have corrected the cause of the overcurrent. If you don't, the breaker will just trip again (best case), or the wires will heat up again and cause a fire, burning the house down (worst case).
Given your lack of experience with the electrical system in your house, your best course of action is to call in the pros.
It is hard to tell what exactly happened, apart from the breakers having saved our house and potentially your life.
Probably the wires which just burned are as well responsible for powering the complete side of this house. But it would be dangerous to just assemble everything together as it was and hope that all is fine now.
Instead you should have a licensed electrician have a look on the whole installation.
If the breaker that tripped was an AFCI, then this could have tripped if there was a loose connection in the box that the smoke was coming from. It would get hot if current was flowing at a level way below the over-current limit. Was the breaker an AFCI or a standard breaker?
If the answer is yes, then it could be that you could just remake the connections properly and the circuit might work. If the receptacle was "backwired", a loose connection is likely. You should