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Do I have to acknowledge each application?
Ideally yes. It is courteous to acknowledge applications but if you are swamped with applications it may not be practical. In any event you should notify each individual of the outcome of their application.
When do I notify applicants who have been unsuccessful?
You can either do it at the end of the process once you have made an offer of employment and it has been accepted or you can do it in stages throughout the process. For example once you have selected applicants for first interview you could notify those not selected for interview that their application has been unsuccessful.
How long do I have to keep applicant’s details?
You should keep applications for a period of at least 6 months. If you have used a spreadsheet or other tool to log applications it is useful to retain that information in case it is useful for future recruitment purposes.