PC or Mac: Either platform will work. Most available PCs and Macs have more than enough power to handle home recording.
I would suggest at least one (1) gig of RAM would be good and two (2) hard drives both at least @7,200 RPM's
Audio Interface: This add-on hardware, which can range from a simple audio card to a multi-channel external interface,
allows you to transfer analog music to your computer in a digital form.
e.g Delta 1010, Delta 44/66, Echo Layla, Digi 001/002.
Software: This might be Digidesign’s Protools, Steinberg’s Cubase, or a number of available software products.
Like Cakewalk, Tracktion etc.
Good Space: Don't underestimate the importance of this, the last thing you want is your perfect take ruined by the rumble of the garbage truck lumbering down the block or a nasty sounding echo from your low-ceilinged, square room. The easiest way to make a bad sounding room sound good is have quality room treatment like Sonex panels, RPG Diffusors and Bass Traps etc.
Microphones/Stands SP B1s', MXL V67, SM 57 etc
Monitors: Passive or Active. KRK V4, BX8/5s or Tannoy Reveals, Truths
Hardware: DI and Patchbay
Mixer and/or Preamps
Than you can expand with hardware like compressors and effects. Or you can use the plug-ins which ever you'd rather.