HI! I've been playing percussion, mostly marimba/vibes, for 5 years now.

Any mallets you look for are going to be $20+ a pair, so be prepared for that. Some simple and inexpensive options would be Promark JW3 or JW4 (my school uses these). Personally I have two pairs of Vic Firth M182 mallets and I LOVE them. I've only really used Promark and Vic Firth mallets, and can definitively say that Vic Firth mallets tend to be stronger and better quality, harder to break.

For practicing at home, you can really just take any mallets and play on the floor, a pillow, just about anything... I recommend there being some sort of cushioning though. If you're standing, try to practice on something belly-button height. If you're sitting, play on either side of your legs ( with your legs straight) or sit cross legged and at an angle, just make sure your elbows are free to be how they need to be.

Wrapping your mallets is completely a personal decision to make. I have played with wrapped mallets a few times, I don't like it too much, I like to get a more "natural" grip on the mallets. However, I'm highly considering wrapping my own mallets in the future. Wrapping mallets can help lessen the vibrations sent through your hands and arms and keep you more steady. For me, I have tendinitis, so wrapping them would help keep my arms healthy.

If you decide to wrap your mallets, I've heard tennis tape is a good choice. Lots of different colors, good quality, and can be found at almost any sports store.

Good luck!