Stuff you might want to know;
DAW - Digital Audio Workstation, AKA editing/recording software
Condenser vs. Dynamic mic - Basically, Condenser mics are way more sensitive and pick up everything within 2-10 feet of it. Dynamic mics are commonly used on stage, and are way less touchy
Audio interface - basically a soundboard that's optimized for recording.
Condensed:
Mac: Garage Band
PC: Get a Mac
If you just want to record vocals, get a condenser mic.. otherwise, read the un-condensed version on mic selections a little ways down. Check out a local Guitar Center and tell them what you're looking for and they can hook you up with a good mic at a good price. If you have no recording hardware and only plan on recording vocals, then you'll need a condenser mic with a USB (or firewire if you have an old mac) output. Just tell your situation to the employee in the sound section and they'll walk you through everything.
Not so condensed:
-DAW
Well, Garage Band is a pretty solid DAW, but it requires mac.. I'm assuming you have windows though. Mac is widely accepted as the most efficient music-making operating system. I'm told by numerous people that Mac is definitely superior in this field, and I myself use it. If you're looking for free software for a PC, then good luck. Most of it is clunky looking, and has a steep learning curve. When is comes to aesthetics, PC sucks as well. If at all possible, I would consider getting an old macbook, even if it's five or six years old. It still should preform better and give you more opportunity for creating better music. Garage Band comes with basic effects for vocals and all instruments that you can easily apply on the fly. In addition to this, it has a time line that allows you to record, listen, delete, and retake with ease.
-Mic
As far as mics go, it depends on what you want. If you're planning on playing with a band all at the same time to record (which in't recommended) then I would suggest sm58's, which are the standard dynamic mics. I believe they run around $100 a piece. If you plan on recording each instrument separately then go for a condenser mic ($100-$300 would be more then fine.) These things sound really good, and are great for miking acoustic guitars and vocals. For electric instruments it would be best to do a direct input straight to an audio interface, then take care of all the effects in Garage Band.
Any other questions, let me know.. feel free to ask for the condensed or un-condensed version
