Fruity Loops is one of the biggest software editors/ music sequencers for hip-hop music around. It will certainly give you most if not all of the software you need. Problem is its not so easy to get. Do you have any friends who are into torrenting?
For recording yourself, you have two options if you don't want to spend a lot of money...
USB Mics cost about 10 bucks a pop, but often they don't pick up bass well and your voice will have to be tinkered with a bit in the mixing process.
Regular mic plus amp plus Quarter" Jack to Mic Jack converter will cost you 150 USD+.
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