So it looks like I’m late to the party, just found this topic.
You definitely need a dedicated audio interface, recording through your computers audio card will introduce lag and its pretty hard to have to later find that yo have to manually sync things up. Don’t even try. Having said that, if your budget is nonexistent then you should give this a try:
http://www.asio4all.com/
What is it? Its a special driver that will allow you to record with minimal latency, its a pain the in the ass to set up and at some point you’ll need an actual audio interface so try it out just to get started and keep an eye out for used recording interfaces on craigslist.
One last thing about audio interfaces, if you’re going to be doing electronic music, you’ll likely need a midi interface, you can get a separate audio and midi interface or a combination of both or a midi interface with a built in midi interface through USB, but at some point you’re going to want to record some audio, even if its an old analog keyboard or banging on some pots and pans just for fun. AVOID USB MICROPHONES!!! Do not even go here, they are very limited, get a separate interface and mic. Some people might e fine with recording everything with a single microphone but you don’t have the budget to experiment, get something that’s future proof.
I’m not familiar with LMMS but audacity is not the way to go, its great for editing audio but not meant for multitrack recording. Frnakly, no open source solution is pro level but if you must, Ardour is as good as it gets.
If the problem is cash, go with reaper http://www.reaper.fm/.
They’ll allow you to run in demo mode with no restrictions for as long as you want and if you ever want to buy the software, its only 60 bucks.
Sonar sometimes goes on sale in the steam store for very little cash and its very polished.
Mics:
A shure sm57 is a good mic to start with, its a good all around mic and used in a lot of pro recordings (that doesnt mean its a good mic, jus that you won’t go wrong with it )
But if cash is tight, I recently purchased this at a pawn shop for 14 bucks, you can get it new for 30, you could do a lot worse for your first mic:
Here’s a thread on that mic, at the bottom you’ll find a crappy recording I made using only that mic
http://forum.recordingreview.com/f170/360-help-70940/
So that’s my recommendation: ASIO4ALL and REAPER to get you started, and if you’re looking for a cheap mic, the cisno is cheap and “good enough” play around with that for a couple of months and be on the lookout for a cheap used audio interface with midi capabilities.
If you have any questions about the technical stuff (ASIO and MIDI can be challenging at first) PM me and I’ll be glad to help out.