Ok I’ll try to give you the best possible options that you can do. I will asume that you have 0$ but you NEED AN AUDIO INTERFACE and 1 MICROPHONE (you need a mic if you want to record vocals). Without that you can’t do shit.
Now I’m gonna list the things that you need.
1. A good computer – you need atleast 4gb ram so that your computer can function properly when you are recording. It will work with less ram but it will most likely start lagging. So 4gb minimum and everything above is a plus.
2. Audio Interface – you need that to record your guitars, bass, drums, vocals or anything else. Idealy would be that your interface has 8 inputs so that you can record all of your drums at the same time but since you said that your budget is very low, an interface with 2 inputs will work as well but you will need to do some adjusting when it will come to the drums. ( I will explain later how to do it). You can also do it with 1 input but then you would have to wait on your turn to record a guitar because you can record only 1 at a time. When you have 2 inputs you can record 2 guitars at the same time. The interface I would recommend is Focusrite Scarlett 2i2 (https://focusrite.com/usb-audio-interface/scarlett/scarlett-2i2)
3. Daw – You need a program in which you will record. The best “free” one is Reaper (https://www.reaper.fm/). Reaper is free for 30 day if I’m not wrong and then they want you to buy a license but you can still use it if you don’t buy it. The license costs 60$ and that’s absolutely nothing compared to pro tools or cubase which cost over 600$.
4. Amp simulator – you need something to simulate your amp if you are not planing on recording the guitar with a mic. Best free amp simulators can be found here: http://www.wiredguitarist.com/2016/12/30/top-5-free-guitar-plugins/. The best ones that cost are bias fx or guitar rig 5.
5. Microphone – I will give you two microphone options with which you can record “everything”. They are Shure sm57 and Sennheiser MD 421. Shure sm57 is perfect for recording electric guitars or snare but you can also record vocals with that but you need a pop filter for that which is not really expensive. The mic costs 100€ and that cheap for a microphone and that mic will last you forever. everybody has that mic. Sennheiser works great for vocals, toms, guitars, kick in… but that mic is more expensive. It costs 379$ i think.
6. Drum recording – Now here stuff will get a bit complicated, there are few options you can do:
– Drum replacement – that means you get your microphone and let’s say you want to record a kick, you get your mic and you tell the drummer to just play the kick, it doesn’t even have to be a kick, he can tap his foot on the floor, the important thing is to record those transients and then when you record that you import that file in your daw and you replace those transients with a drum sample, so each time a transient appers it will be replaced with a sample that you choose. There are some free drum triggers here: https://www.drumwerks.com/drum-replacement-plugins/
Now obviously that would take 100000 years because you have 1 mic and it would take forever to record the whole drum. This would be a great option if you have an interface with 8 inputs and you have 8 mics.
– Programming the drums – The absolute best one is Superior drummer 3. You can literally do anything with that and it sounds amazing. The downside is that it costs over 300$ and it has over 250gb of samples. Good news is that there is a great free drum vst that you can download and it’s called MT Power Drumkit 2 (https://www.powerdrumkit.com/). I use it all the time. It really sounds great for a free vst. The only downside is that is sounds metal, meaning that if you wanted to record a slow, soft chillout song those drums wouldn’t really work because they sound heavy. But if you only want to record rock or metal then it’s perfect. It will take some time to learn how to program those drums (it’s not really programing, it just drawing the notes on the piano roll) but it’s not really hard. It just takes more time to do it than to record it.