You need a DAW (Digital Audio Workstation) which is simply multi-track recording software for your computer. I use GarageBand but if you don't have a mac that won't work. The best free one out there is Ardour, but there are other free ones like Traverso and rosegarden. Non-free ones (that can probably be found one way or another) include Cubase, Pro Tools, Mixcraft, etc.
Here are some tips and tricks I've learned over the years that will really help you record and mix, as well as help those to whom you send your stuff to play along or add to.
== Glossary ==
DAW = Digital Audio Workstation. In our case, the multi-track recording software we use (e.g. Ardour, GarageBand, Mixcraft, Logic, Pro Tools, Cubase, Presonus, Traverso, etc)
Bounce = Take multiple tracks and send them all to just one track.
BPM = Beats per minute, standard measurement for tempo.
Clipping = Volume overload, usually at the input. Usually represented by red at the top of the level indicator. Sounds like total garbage, often a crunchy/fuzzy popping or clicking.
== Recording ==
Tuning - Use a standard tuning! Doesn't matter if you want it tuned down low, even something like Eb Drop Db, just use a tuner so it's real Eb and real Db.
Input Levels - Set your guitar's volume to full, or wherever you like it (usually close to full if not full), and then set any pedals you might use to the levels you want. Next, watch the level indicator in the DAW and make sure the loudest thing you can play doesn't clip.
Key - Take note of what key the song is in. Some DAWs have a place to show this, and it's important if you'll use any software instruments or sound loops.
Tempo - Set the BPM of the tune. Tricker if there are tempo changes mid-song, but usually not hard in all the modern software.
Metronome/click-track - Use the app's built-in metronome! A MUST for collaboration, mixing in tracks from other sources or players, adding drums later, etc. Use it either as is, or record it to it's own track (can really come in handy, and can always be muted later). External metronomes are not recommended for many reasons, ask me if curious (don't feel like typing them all out, there are many). Using the metronome will also allow you to keep just a few good bars of a take, and/or loop your own playing. Without using one, you will have to nail the entire song or keep your mistakes, or start over.
Keep imperfect tracks - if you make small mistakes, you may find those takes still end up being better than a future attempt. Rather than record over the same track, mute it and start again on a new track. Better to have and not need than need and not have. Maybe there are no mistakes and it just makes a decent alternate take. Keep it and mute it if you'll try again, decide later what to delete. I don't delete much - I usually keep many tracks and mute what I don't want.
== Mixing ==
Mixing is generally when you work on each track separately in order to make them parts of a whole.
Less is more - for EVERYTHING in this section, smaller adjustments are better than big ones!! Read this line again.
Output levels - Once you've decided how loud you'd like each track in relation to the others, adjust the output levels (a little at a time) for each track and have a listen. Always listen in at least one of EACH the following: crappy headphones or crappy (like laptop) speakers, and good headphones or good speakers. You'll be surprised how a little more bass is WAY too much once you try the good speakers... or maybe you cut some because it was overbearing in the good headphones, but now you can't hear it at all on the crappy laptop speakers... etc.
Panning - Take things in roughly the same frequency range (like 2 guitars) and pan one a little left, and the other a little right. This stereo separation lets them breathe a little, and helps to make it less muddy overall. Usually only the rhythm section (drums and bass) don't get panned at all. They're the engine driving the tune and usually stay dead center.
EQ - Try to cut what you don't want from each track rather than boost what you do want. This prevents unwanted noise in the signal from also getting boosted.
Less is more - for EVERYTHING in this section, smaller adjustments are better than big ones!! Read this line again.
== Mastering ==
For the final mixdown, your mix from the previous section gets "bounced" to a single stereo track called the master track. Mastering is working on the master track to complete the song's overall sound.
Fade in/out - Fairly self-explanatory. Depends on the song.
EQ - Not much if any should be done here! Do this on a per-track basis in the previous section before you get here! That being said, sometimes a tiny bit of EQ can clean things up. Use sparingly and carefully, if at all.
== Exporting/Sharing ==
File formats - Be mindful of what your collaborators are able to import into their DAW! Usually you want lossless formats (WAV, AIFF, FLAC) when exporting individual tracks to keep the full quality until it's time for the final mixdown. If you're just exporting the master track / whole song, lossy (AAC=m4a (preferred! newer!), mp3, etc) is OK because it's just for listening to, not for editing. (Exceptions are made here, like when working with imperfect takes of quick recordings just for showing each other how it goes... but when working on the "real" version, keep the quality until the very end!!)
Whole song or individual tracks? Depends on whether you'd like others to add to it or not.
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That's it for now. There's so much more but that's the important stuff to start. Happy recording!