To get the source (microphone) into your computer, you'll need an audio interface, unless youre already using your audio card. For your guitars, you'd either have to buy a pick up or mic them. As for your mic, I'd say a blu snowball will probably be good for you, because then you can spend money on your audio interface.
As a general first mic choice, you'll want probably a small body condensor if you're just doing guitar, or a large body condensor if you're doing vocals as well. These are NOT the microphones you'll see on stage; those are dynamic, which are built to last, not to sound good. I'd post some links, but I haven't posted enough! So, i'd say go to sweetwater's website and just look at reviews for mics under $200.
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