What kind of music?
What kind of instruments?
What are your computer specifications?
What music software are you downloading?
What music programs are you using?
What are your goals in homerecording?
Kid, don't provoke the spinning ball or you'll bring down havoc on us all!
Answer da questions so the right help can be given.
Ya got a soundcard? Great. What kind? Knowing helps determine what software and mics would be best.
Ya got microphones? Knowing what kind determines whether or not you need a preamp.
Knowing what style of music and what you want to do with it helps make the software decision also.
Computer horsepower lets one know how many tracks you can record and how many FX you can probably use.
Spin aint your girlfriend, but he's pretty hip to this stuff and has helped me a lot.