I got an error message with updating my iTunes and now its saying I need to re-install iTunes. How do I do that

When I was prompted there was an update on iTunes I did as usual and began installing the update. Something happened during that time and I got an error saying it didn't download correctly. Now when I go to open iTunes it gives me an error message and says I need to re-install the program.  I'm not sure how to do that.  I am also concerned that I will lose all of the things that I have backed up from my phones, purchases, apps, etc.  Can anyone please give me some insight on what to do?
Thanks

See... Unable to install or open > http://support.apple.com/kb/TS5376
Also See this User Tip by turingtest2
https://discussions.apple.com/docs/DOC-6562
littlered1382 wrote:
  I am also concerned that I will lose all of the things that I have backed up from my phones, purchases, apps, etc.
It has always been Prudent to Create and Maintain a Backup of anything you would not like to lose.

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