Install MacPorts before you do anything.

Install MySQL5

sudo port install mysql5
sudo port install mysql5-server 
sudo -u mysql mysql_install_db5

Secure MySQL5

To secure your MySQL5 installation, you can either change the password manually like so:

/opt/local/lib/mysql5/bin/mysqladmin -u root password {new-password}

or on a production system, you can run the secure script and not only change the password, but remove anonymous access and prevent remote root login.

/opt/local/lib/mysql5/bin/mysql_secure_installation

To start the MySQL daemon, type:

sudo /opt/local/lib/mysql5/bin/mysqld_safe &

or to make sure MySQL5 is launched at startup every time:

sudo launchctl load -w /Library/LaunchDaemons/org.macports.mysql5.plist

Create a symbolic link

sudo ln -s /opt/local/bin/mysql5 /opt/local/bin/mysql

Test the installation

mysql -u root -p

It should prompt you for a password and you should see the “mysql>” prompt