Ok, here is episode 3, all about the hardware needs that you will have. (links to products here give me a kickback, btw)
Literally. You need space to do this. It needs to be quiet, it needs to be free of pets and children. It should not have bare walls.
2. A computer.
I assume that most people have one that will suffice for recording and editing – if you’re not sure, trying playing a modern video game on it. Can it handle it at default levels? awesome. it works.
3. Actual podcaster-specific stuff: a microphone.
The one that you will use comes in 2 major types: Dynamic and Condenser. Here is a Wikipedia page about it.
If you are going to be in a group setting and you don’t want another mic for each person, go with condenser, as it will pick up all the audio in the room. I use a Blue Snowball for recording my D&D sessions.
If you are going to be by yourself, or you can afford one for each person, then use a dynamic mic, as it tends to not pick up audio that is far away from it, and it has a more impressive range that it can pick up. When I am recording by myself, I use the ubiquitous ATR-2100.
Other things, in no particular order:
If you don’t want to build a blanket for around your computer every time that you record, get some acoustic panels.
If you’ve got money to burn and hate taking time to put your microphone away, then get the thing I incorrectly called a boom. It’s actually a scissor arm stand. A boom is the long pole that sticks out the back of a ‘normal’ mic stand.
If you want to be able to do anything on your desk without pausing your recording, then a shock mount is for you.
If you want to hear what you sound like to your audience while you are editing, then some decent headphones are in order.