From my many and painful experience:
Get a cheap USB to XLR interface and a cheap (lower shure product range) Mic, plug 'em in, put the mic in the middle of the room and start rolling. Record all this with Audacity, and don't be disappointed if it sounds like crap.

Alternatively you can spend (at least) 1k on equipment with barely better results or 2k to get to the lower end of good sounding recordings. You don't really need top of the line equipment to record, but you need a lot of equip, especially for drums.
If you're willing and able to spend that kind of cash, PM me and I'll give you some pointers on what you need and where to get it, but seriously I'd recommend practising some songs, recording them with the aforementioned crappy setup and use the 2k (or more) to get a week in a professional studio.

After all, to get good recordings, it's not enough to record something, but you've got to mix and master it, have to know about phase adjustment, noise gating and the whole shebang.