You'll need a decent soundcard for recording audio - initially you'll get away with a basic card but to get really good quality you'll need a specialist card. The Soundblaster Live Platinum is considered entry level. The cheaper sequencer programs are usually very good - you only really need the expensive ones like Sonar if your really taking this seriously - Home Studio is fine for a beginner (or Cubasis). For midi recording which allows detailed editing before recording to audio any soundcard will do.