Hi, I'm looking to just give myself the ability to record a single electric guitar. Possibly bass, acoustic guitar and vocals too.

I have a windows based laptop (nothing fancy)...Can I just buy a USB audio interface, a mic say a shure sm57 or sm58?

...And obviously a recording program...what would you suggest? I don't want to spend much. I know a couple free programs like Audacity, any good? Don't wanna spend money for something decent e.g. logic.

Will that fix me up with a BASIC recording setup?

Cheers, Luke.
I would suggest buy an sm57 mic. Pickup a line 6 toneport ux1(I think they may be called pod studio now though). Then download reaper instead of audacity.

SM57 is like 100, I found my ux1 for 45 bucks useds, if not its like 150 new or something.
Agile AL3000
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I'd go with a Audix I5 mic, has a bit more bass response than the SM57 and would work better with your acoustic as well as with your electric.

Basically yes, that's all you need. I'd recommend Reaper for your DAW, it's free as long as you don't profit off of it, but the basic license is $60 if you do want to actually buy it and support the programmers, which you should.
Thanks for the replies. I'll take on board whats been suggested.

I had a toneport ux2 actually a year or so ago. Didn't like their software but didn't realise you could use whatever you wanted to use with it.

Cheers guys