You are going to need a half decent PC to get more than a couple of tracks going - I would suggest a Fast PII or Pentium III equivilent or higher. Lots of RAM is important.
You will also need a half decent soundcard cabable of full duplex (sending data in and out at the same time) - I use a SB Live! Platinum and it works fine.
I would also suggest you get a mixing desk to mix together drums and other multiple tracks.
Finally you need some decent software - I would suggst Magix Studio as it is *very* capable and cheap at £45.
Good luck!