Which software and soundcards do you use for your home (PC) music recording?

I have some MIDI-capable equipment (guitar synth, drum machine/sequencer, etc.) and I want to start recording and developing some of my ideas.

I have a PC with Windows XP, but I need a soundcard that will allow me to use my existing equipment (MIDI), and some software that I can use to do some track recording/sequencing/editing and probably some other rudimentary tweaking.

Does anybody have any suggestions for good beginning PC music equipment?

I use a Yam SW1000XG. It may be a little long in the tooth by now, but it still does the biz and I’d recommend it. I’m intending to add a Lynx Two (really as a home HiFi back end), though I doubt this would be of interest to you because it does not have MIDI capability (AFAIK).