multitracking?

what's the best multitracking software and mic to get for a comp for the lowest price? I'm heavily interested in perfecting my vocals for a future career and I'd love to have a good piece of vocal editing equipment without breaking the bank. I live in the US btw.
 
If that is all you will be doing all you need is e.g. a copy of Pro Tools LE ( free software from http://www.digidesign.com/ )
I would recomend to get a mixer or a separate microphone preamp to get better sound. As microphone I guess you could start out with a Shure 58 ( PG or SM series ). AKG and Audix have some ok microphones too. The final soundquallity also depends alot on what kind of soundcard you have but you can get started with almost any card made in the last two or three years...