Coding is entirely new to me. 
Right now, I am teaching myself Python. As of now, I am only going over algorithms. I watched a few crash courses online about the language. Based on that, I don't feel like I am able to code any sort of website or software which leads me wonder if the libraries and frameworks of any programming language are the most important bit?
Should I spend more time teaching myself how to code with frameworks and libraries?
Thanks
First of all, you should try to be comfortable with every Python mechanisms (classes, recursion, functions... everything you usually find in any book or complete tutorial). It could be useful for any problem you want to solve. 
Then, you should start your own project using the suitable libraries and frameworks. You must set a clear goal, do you want to build a website or a software ? You won't use the same libraries/framework for any purpose. Some of them are really often used so you could start by reading their documentation.
Anyhow, to answer your question, framework and libraries are not the most important bit of coding. They are just your tools, whereas the way you think to solve problems and build your algorithms is your art.  
The most important thing to be a painter is not knowing how to use a brush (even if, of course, it's really useful)
Are framework and libraries the more important bit of coding?