Well, if you don't need a high quality studio equipment then you don't need to purchase items for many thousand dollars. If you only plan to record your progress for self controlling then a normal sound card will be sufficient. This will work like a tape recorder.
Which hardware is needed? - Well, you'll only need a keyboard with stereo audio outs, a 1st stereo audio cable from your kb to your sound card, an ISA or PCI sound card, a 2nd stereo audio cable from your sound card to your HiFi amps.
Which software is needed? - You'll need a program for recording and playing audio tracks from HDD. WinAmp for example is a player only but can be used for WAVEs and for MP3s. I'm using NeroMediaPlayer V1.103 for myself which came as a part of the software bundle of NeroBurningROM V5.0. It has the ability to record from the audio ins of your sound card to your HDD.
From where to get NeroMediaPlayer? - You can find NeroBurningROM V6.0 on this page
Nero but it is not for free (about 60 $US). NeroMediaPlayer is a part of the software bundle. You'll get much more for editing audio tracks and something more...
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Greetings from Frankfurt (Germany),
Sheriff ;-)
[This message has been edited by Sheriff (edited 05-10-2005).]