I think I know that the source you record has a optimal frequency rang and you want to exclude the too highs and too lows? Which is eqing...
Tell me about frequencies...
There are lots of reasons to use EQ. These can range from correcting problems that occurred when recording, through trying to emphasize certain parts of a voice or instrument to simply helping different tracks in a mix sit nicely together and not fight with each other.
THIS page has plenty of tips and tricks to try--it's worth a read.
Not really anything to do with EQ. The bit rate or bit depth of a digital recording controls how many different discrete levels you system can distinguish between when the sound is converted to a digital file. For example an 8 bit file can have 256 different sound levels. CDs are all in 16 bit which can distinguish 65,536 different sound levels. Modern DAWs tend to use either 24 bit or 32 bit floating point for greater accuracy. The "float" part indicates that the decimal point can move within the numbers so, if you don't need all 32 bits for a super loud signal, you can use decimal numbers for more accuracy.
what it your mixer has only 1 eq control?
Then you probably shouldn't even try to use it. EQ is best done with great accuracy--use a scalpel, not a sledge hammer. Beyond that, though, you're generally better off not EQing as your recording anyway, even with the best controls on a mixer. Record flat and use your software to make changes while you're mixing.
in basic terms please
I want to know how to set up an input for the best results dealing with the mixer and computer settings and why?
Well, as noted above, don't even try to set up any EQ on the mixer--do it in the computer. That link I gave you above gives a lot of examples of what EQ at various frequencies can add or take away from your recordings. For example, a bit of extra EQ at 250Hz can make things sound "fuller" but too much and things can sound "muddy". Sounds at around 500Hz can help the intelligibility of your voices but too much can make things sound "honky". And so on. Your best bet is to record a bit of voice--even somebody speaking--and just play on your DAW, listening to what happens as you cut or boost frequencies. Oh, and you're usually better off cutting some problem frequencies a bit than boosting others!
Bob