
I have a Roland Boss BR-8 unit (64 virtual tracks) that I used to record cd projects. It's very easy to use and extremely professional in quality. It's no longer in production as it has been replaced by newer models with more bells and whistles.
http://www.rolandus.com/products/productdetails.php?ProductId=437
http://www.rolandus.com/products/productdetails.php?ProductId=437

I use Audacity Freeware to record podcasts and other audio projects that involve spoken word. Occasionally I will use it to edit a music track but I prefer Goldwave for that.
http://audacity.sourceforge.net/
http://audacity.sourceforge.net/

For audio podcasting and vocal production I have the Blue Yetti microphone which is the best you can get for usb recording. They can be found at Amazon.com and run about $110. This is the same microphone that my good friend uses to broadcast election night results for the local newspaper.