Let's try and fit your definition into the example you mentioned, first. The sequence $a_n$ you gave is $a_n = \frac{1}{n}$, and the limit $\alpha$ is $\alpha = 0$. Therefore, we wish to prove that for any $\varepsilon > 0$ there is a positive integer $N$ such that if $n \geq N$, then $|\frac{1}{n} - 0| = \frac{1}{n} < \varepsilon$.
Let's think about that definition for a moment. What this says is that eventually, every term of the sequence $\frac{1}{n}$ is close to $0$, no matter how arbitrarily close we want to be. And really, that's all we mean by convergence: eventually, the terms of the sequence get "close" to the limit. We are just making that notion of closeness precise.
Now, let's prove the result. Let $\varepsilon > 0$ be given. Then there is a positive integer N such that $\frac{1}{N} < \varepsilon$ (this is the Archimedean Property). Of course, when $n \geq N$, we have that $\frac{1}{n} \leq \frac{1}{N}$ by dividing both sides by $n$ and $N$. This same procedure works for any $\varepsilon$; there is nothing special here about the one we chose (though $N$ might be different in each case; that's not a problem). Therefore, given any $\varepsilon > 0$, we can find a positive integer $N$ such that for $n \geq N$, $|\frac{1}{n} - 0| < \varepsilon$. That is, we showed that $a_n = \frac{1}{n}$ converges to $0$ by definition, as desired.