reaper is likely the best software, but it has a trial limit, then the full version $160(more or less). Its also extremely easy to use and the trial time is around a month. audacity is free and also pretty easy to use.

If you mean modelling software, pod farm is pretty cheap and decent sounding. Dont know if it records though.
Marty Friedman is GOD!

curently in a SEX MACHINEGUNS and X JAPAN phase AND Galneryus AND Anthem phase

damn J-Metal, why you so awesome

My Gear:

Schecter Hellraiser V-1 fr
Ibanez RG321mh
Fender GDC-200sce
Peavey Vypyr 30 w/ sanpera 1
Last edited by bustapr at Jan 30, 2012,
Reaper is $60 unless you need a commercial license. It is well worth the money. If you do some searching on the forum you can find plenty of free amp sims, cab impulses and other plugins to use that work as well as the ones you would pay for.