Hey guys,

I am in need of some help. I have ABSOLUTELY no idea about how to record anything. I have never done recording before, but I decided I want to cover some songs, and I want to record them in good quality. Since I dont have any kind of experience or knowledge in this field, I thought you guys could help me out with some advice/guidance...

First, could you write down the things that I need and explain what they are exactly used for in a very simple way if possible ? I have an electric acoustic guitar, which I want to connect to the PC and record in good quality, however I found that if I connect directly to my PC, the sound quality... well... its a piece of ****, so I wondered if there is any way to get a more "studio"-like sound. I also have a studio-microphone thats awesome so thats okay for the singing.

Second, can you suggest some things (if I need anything else that is) which are fairly low on price but provide good quality?

Thanks a lot
Get an audio interface. Check out Focusrite, they have a product called a Scarlett 2i2. Great quality, good price.

You connect that to your PC via USB. You then plug your instrument or microphone into that.

Use some software, I like Reaper. It's free and it keeps it simple, great for starting out in.

If you're wanting to do vocals, unless you wanna shout really loud at your guitar buy a vocal mic, SM58's are the industry standard but you can get cheaper ones.
SM58's are awesome. For the money, the sound quality and durability is a no brainer. You can pick up a USB audio interface for around $100 last time I checked. The most important thing about recording: THE METRONOME. Go to sleep with a click track playing so your mind will absorb it. If you don't have a computer, get a little digital recorder. I picked up a 4-track Tascam recorder that records straight to an SD card. Pretty easy to use, and comes with stereo condensor mics built in.
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Define "fairly low on price".

Depending what you mean by it, you should also consider the possibility of getting a multitracker as your DAW instead of using your PC. It's usually a slightly higher initial outlay, but is much easier to use and has all the same basic functions of software based DAWs.
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An interface is key. How much do you want to spend? m-audio and some others make entry-level interfaces that you can get on ebay for less than $100