There is not really anything called "a Mach" - what you are referring to is the Mach number, the ratio of your current airspeed to the speed of sound at current conditions. You would never say "how many Mach". Your speed may be Mach 3, but you are not doing 3 Machs.
Mach 1 (the speed of sound) is not a constant. As others have pointed out, the speed of sound at sea level at standard conditions is 761 MPH, but it slows as temperature drops, and varies with air density.
You may be wondering why we bother our selves with it, since the speed varies a great deal. After all, you can not easily use the Mach number to figure out how long a flight will take.
A critical change occurs as you near Mach 1: below the speed of sound air acts like an incompressible fluid, the air traveling around the plane will maintain a constant air density. As you reach the speed of sound the air molecules can no longer get out of each others way quickly enough and start to pack closer together and form shock waves. This causes a huge increase in drag, using a great deal of power The changing pressure as the air compresses and forms shock waves can cause the plane to lose control if the plane is not designed to deal with these effects. It was this sudden change in flight characteristics that led to the idea of "a sound barrier".
A note to eferell: I know who Ernest Mach is, I'm pretty sure he was mentioned during the 3 years of aerodynamics I took (and took at school that had what was at one point one of the largest supersonic wind tunnels in an academic environment.)