My brother's getting into recording on his PC, so I just bought him a USB Recording Interface (don't know if there's a better term for it). Basically, it's a device that takes a standard mic or line input and converts it to USB, making it way easier to get the signal into the computer. I picked one up at Long & McQuade for about $60, but I believe it was an older model as they were clearing a few out. I imagine it would normally be around $100.
Here's a link to one from Axe Music's website.
http://www.axemusic.com/product.asp?...8335&PT_ID=281
Here's a link to the product's website. According to them it's $129 MSRP, but I'm sure you could find it for cheaper.
http://www.m-audio.com/products/en_us/FastTrackUSB.html
I'm sure there are other brands that have the same type of product.
Good Luck!