Audio Mixers
There are two varieties of mixers: hardware and software. What Im referring to at the moment is a hardware mixer which will physically take the audio output from, say, your microphone, a guest microphone, your CD player (cassette, etc.), or possibly a guest on the telephone and funnel or mix it all down into one output of audio which you can then input into your computer for digital recording.
Using a hardware mixer allows you to visibly set your sound levels on-the-fly and individually for each audio source. This is how many traditional radio studios and recording studios do it.
Hardware mixers can be found in a very wide choice of prices. At home for my recording needs, I use a Radio Shack 4-Channel Stereo Sound Mixer which features an input for 1 microphone and 4 additional audio inputs. It will also cross-fade between left and right, fade any or all channels at once, mix in mono or stereo and even provide a rudimentary treble and bass control.
My particular unit cost around $60 but at the time of this writing Radio Shack has a newer, streamlined model for $39.00. This is very low end but the signal-to-noise ratio, which is a measure of signal strength relative to background noise, is surprisingly acceptable as is the amount of hum (stray magnetic fields that produce audible noise). Radio Shack also carries a 4 channel/3-Band Equalizer Sound Mixer for about $149. But, if you're going to spend that kind of money, first also compare other medium and high-end mixers by looking here.
In my home studio, I use a Shure PG58 microphone. Its a very economical, rugged, all-around microphone designed for vocal performance. I would prefer to have an Electrovoice RE-20 which is broadcast-rated. Unfortunately, they are expensive and even on eBay you can easily spend $300 - $400 for a used one. In addition, I purchased on eBay an inexpensive wind shield that covers the mikes head to keep from popping my ps and to eliminate extraneous breath-noise. You can find this microphone for about $40 dollars. Compare prices here.
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