If you have a mac you have GarageBand, which is really excellent--it does most of what you want from professional packages in a really easy way. I have Garageband and LogicPro on my macbook pro and I often prefer GarageBand.
I love the Motu stuff but it's out of my budget. I've been using the Mackie Satellite ($199 at Guitar center) and it's been great.
I did this today--it's all bass with a drum loop. Recorded direct into the Mackie. I used Logic for this, but it would sound the same if i used GarageBand:
http://chnm.gmu.edu/courses/magic/leafs.mp4
I also spent some money for a pair of monitors--M-Audio BXR-5s I got "reconditioned" for $250. And I bought an SM-57 for micing amps
Here's a page of samples, music beds I did for work. They're not great or anything, show what a complete novice can do with the equipment ablisted above:
http://chnm.gmu.edu/courses/magic/samples.html