J is quite right........but the soundblaster....I jerked mine out and threw it in the garbage.....as far as Im concerned its a gaming card and nothing more....now if it was an Audigy, I doubt I would have tossed that, but I would'nt buy one to begin with for recording.
You can get a descent 24bit card between 150-300.00
Invest in a small mixer with analog and mic. inputs, phantom power would be nice in case you upgrade mics.
Your PC or Mac should be at least 500mhz I would say minimum
7200rpm HD 40-60gig dual drives if possible
Good CD writer
Software ???? to many to choose from, but if your serious maybe go with Cubase, Cakewalk, Logic Audio, or Pro Tools
As far as computer specs. That was a recommendation, but if all you got is all your getting, then I hope it works out.