basics
I am assuming you want to record voicework, NOT bands? If so, read on:
I did 30-odd years in news and music radio, and it is a differerent thing than being a recording music engineer. Think simple!
You need a decent mic, a way to get it in a PC and a simple editing program.
Mic: check pawn shops, ebay, etc. I use an Electrovoice 635A for both field recording and sometimes at home. New, around $125. Used: if lucky, $30.
There are tons of USB mics, the Blue Snowball being one, that may do for voicework. The trick is to find one that YOU sound good on!
If you buy a dynamic mic that does NOT require phantom power, check eBay for a Radio Shack XLR to USB adapter. They are crawling with them and they sell for about six bucks. Plug in the (non-powered) mic, plug the cord into a USB port and you are good to go.
Another alterative is a XLR adapter (Belkin? Logitech?) to iPod/iPad. They use batteries and WILL power studio mic. The only problem is you then need to get the file to your PC via email, Dropbox, etc. You will need some kind of "cloud" account to deliver your work.
Try to find a used copy of Adobe Auditon 1. or 1.5. It's old, but it does just enough for ANY voiceover work.
Audacity is free, and it can also do the job.
Finding a decent recording space is the last step.
Just remember the sales motto of Tony Maserati. "If it sounds right, it IS right." Have fun!
One more thought: I also used XLR mic(s) plugged into either a Tascam or Marantz recorder. No USB (if that is a concern) and NO FAN NOISE from the laptop, etc.
Been making a living these ways for years and still am doing it.