It's been said many times before, but I can't emphasize enough that confidence is key. I used to be shy like you back in high school, but what worked for me was that I figured out a way to surround myself with females on a friendship basis first. When you have women as friends first, they tend to give you advice [subconsciously in most cases] on talking to
them (whether you ask them or not). You can do lots of reconnaissance on what women generally think about (most think about the same things regardless of personality, education, or economic status with few exceptions). The other plus to having women as friends is you can see whether they are your type or not through REAL conversation.
The only real negative aspect of having girls as friends is that there are some who will put you into the friend zone permanently, but what I've found is that those are the women I'm least compatible with in the first place (no matter how good they look), so there's really no loss on my part. Also, when she's extra emotional, you might have to listen to her whine and complain (PMS and its effects are real, even if they deny it).
Since I'm not really in that hypersexual 'gotta get all the pussy I can' mode anymore, females, more often than not trust me...but when they trust you enough they try to make moves on you (even 'lesbians' as I've experienced)
...when you don't make a move some of these ladies will try, in the slickest way possible, to rape you
Here's a little advice when talking to a female from my personal experiences:
Don't start a conversation by saying she's sexy or using any other euphamism suggesting your immediate physical attraction or intentions (she already assumes you want something)...instead, compliment her hair if it looks like it's just been done (this is important if she rocks the natural look), her nails, her shoes, her toe ring, bracelets, or some prop she might have like a tight Blackberry or a book that you want to read or have read.
Read her body language...if she looks defensive in posture and facial features, chances are you won't be able to break that barrier no matter what you say or do. You can offer to listen and that might work, but if she doesn't know you she'll look at you funny.
Look her in the eye when she's talking...it shows assertiveness and makes her think you're listening even if you aren't.
Above all, make her feel comfortable when talking to you...any way you can do this will give you an advantage no matter what your intentions are.
You will still have to face rejection, that's just a fact of life, but there are many ways to increase your chances.