If you have a Windows PC, i've been using Cakewalk and its browser based affiliate Bandlab, both of which are powerful at the price point. That said, I've heard good things about GarageBand.
I've dabbled in Ableton that fell off the back of a truck, but it is pretty pricey if you don't know if you enjoy it or not.
With that in mind, sky is the limit with respect to cost. I would make a budget of what you need and what you can afford. There is some quality low end stuff, but the stuff that costs more is usually better.
My set up is:
Cakewalk,
Bergner Q802USB mixer ( which I bought because I wanted something I just use to mix live) I simple interface might be better, and lost of people #### talk it online, but it gets the job done.
retro ass old off brand condenser mic I bought used.
One thing you don't want to cheap out on is a quality mic stand, one that holds position well will save you a lot of headache.
to me the quality of your gear only really matters with you want totally clean tracks, otherwise you you can do very impressive stuff just by beating your head against the wall and not taking no for an answer.
One final piece of advice is to treat recording like its own instrument that you need to learn. It takes practice to get better. Oh and also, layering is your best friend.
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