There are still instructions using iDevices with Windows XP, so there shouldn't be a problem with that software.
A new iTunes version is available, it might be better installing it on your computer.
You'll find instructions how to backup your device and get it's content to a new device on this site: Transfer content from an iPhone, iPad, or iPod touch to a new device - Apple Support
It's possible that some apps are not available for iPhones in App Store, they won't be loaded to the iPhone.
Photos won't be loaded to the iPhone, as well as messages.
You'll either have to upgrade the OS on your computer or get a newer computer if that's not possible. The new iPhone 6s will be on iOS 9 and will require the latest version of iTunes, which, unfortunately, you can't get on your existing computer.
As has been said above Windows XP won't work with the latest version of iTunes, Furthermore Microsoft doesn't support XP anymore so theres no help to be had there.