The main thing to consider is budget. It will affect every decision you need to make.
There are lots of DAWs to look at, but honestly that is the way to go. There is quite a learning curve on whichever you choose, but they are starting to all blend together as they pick up each others' fortes. I personally use Reason, and love the visual and hands on feel. I could write a book, but others could with FL, Mixcraft, Cakewalk, Pro Tools, Bitwig, etc. This site will give you a bit of a rundown on the majors.
The best DAWs 2021: the best digital audio workstations for PC and Mac | MusicRadar but is definitely not all-inclusive. Most DAWs come complete with enough VST synths to make the nerds smile (which is another area where Reason shines). AFA drum machines, there are usually some built in to the DAW and then you have the BFD/Slate/EZD/AD/SD ilk that gives you a virtual drumset with lots of options...
Reaper is amazing for budget minded people... It's HUGE. It will do anything. It comes with a very small price tag. But it comes with a large learning curve, which I've worked with and found solutions to problems, but others could give you a lot better advice on that one.
Still, AFA where a budget will go you need to realize a good recording room is the most important thing. If you're going to mic stuff like vocals and amps and acoustic guitars, it needs treatment. REW and some mode calculations can get you through those with some advice from pros (or semi-pros) here and elsewhere on how to eliminate modes in your rooms...I'm trying to make it sound easy, and it can be in the right room. But acoustic treatment is not inexpensive depending on how far you want to go. A good set of bass traps in the corners is a really good start, but also ceiling clouds and reflection point absorbers, as well as diffusers will make a huge difference in any room over 4k cubic feet (below that it gets difficult). There are ways around it, like burning cd's or mp3s to play in your car to hear what's actually happening, but a good room goes a long way.
A computer to run the DAW and VSTs. Both Mac and PC (Microsoft/Linux based...yeah, guys. I know that macs are PCs, too but it's a standard way of delineating.) are viable, again, depending on your budget and long-term needs. Some sort of UPS and off computer storage (cloud or USB) for those inevitable moments when Light and Power let you down or your system crashes...
Add an interface and some nice monitors and you're in the business. That's another big topic...but bear in mind there are basically three layers of monitors and interfaces: 1) Hobbyist - small, semi-inexpensive all with pros and cons, fans and detractors; 2) Serious - mid line with minor improvements over the Hobbyist line; and Elite - mostly uncompromising in specs (and usually price).
Total cost can run from well under a thousand if you just want to throw up some towels and blankets for absorption, scour the pawn shops for equipment, engineer and DIY a bunch of stuff yourself, and kick some music out... to millions to design and build a professional studio.
There are a lot of things to cover, and I'm trying in my own meandering sort of way to hit the major points. Maybe a good starting point would be to pick up a book on recording studio and/or space design. Gervais/Pohlman have fairly inexpensive versions. Newell's is more highly acclaimed, but is fairly expensive. Understand John Brandt is about to release his book as well and I have no doubt it will be superior, but probably in the expensive category. That good old budget thing rears its ugly head again...
Anyway, lots to consider. But start with a DAW. There are lots of them out there and most will give you a free trial version that is either limited in function or time. Find a couple that you like the look and feel of and then begin seriously tweaking with the few to figure out what you like and don't like. I went through Cakewalk/Sonar, Reaper and Reason before ultimately settling on Reason, so it's not like you have to decide immediately either. Just bear in mind as age creeps in that you'll start to lose hearing, tinnitus will start to be your enemy, etc. etc. I do very little in my studio anymore except practice and occasionally jot down an idea for a song.
Maybe for me a workstation that you just turn on and go would be better...
}, just that tape stuff took ages in comparison.