Guitar recording equipment?

Hey guys, i'd like to be in a band but unfortunately i dont have the time at the moment to commit to something like that. So what i would like to do id record a few songs of my own. I'd like to be able to overlay guitar parts (probably only 2, maybe 3), have access to some simple but REALISTIC sounding drum beats and maybe a few basic effects. I have absolutely no idea where to start with this tho, as far as both equipment and software goes. Could anyone give me a list of essentials or reccomend some software? i'm not really bothered about fancy effects n stuff but sound quality is very important. I would be willing to spend up to �300 for the lot. Cheers everyone :)