#2
how cheap?

budget?
what are you looking to record?

recording good sounds is never "cheap"...

Look into line 6 TonePort UX1 and UX2 or in place of a UX2, the Mackie Onyx Satellite is a great firewire interface:
http://www.musiciansfriend.com/product/Mackie-Onyx-Satellite-Recording-Interface?sku=248154

you'll need some good mics too...the Shure SM57 is a great studio mic when the SM58 is a great live stage mic. the SM57 needs a pop filter for vocals.