Gee, that doesn't leave it wide open. Just kidding.

A rough answer would be good microphones for each amp and the drums. A mixer and some form of multi-track recorder and all the assorted cables.

You can expect to spend somewhere between $300 and $10,000,000. Wherever your current budget falls.

In other words, what I listed were very rough basics. Without a better idea of your goals and your budget, it's hard to be more specific.

How much are ready to invest? How big is the drumset? How many amps? Are you going to mike all the amps or go straight into the board? Do you have a suitable location, where everything can be set-up or will you be packing and unpacking it? Do you want to record to a multi-track recorder or onto computer? Do you have any experience with multi-track recording?
These are just a few quick questions that come to mind that would get you better, more specific advice.

Multi-track recording can be a very compact operation or it can get completly out of hand. It's a great experience, but can be frustrating at times. You have to have patience.

And, like alot of things in life, always remember the 6 P's:

Prior planning prevents piss poor performance.

You can keep it simple, not spend a whole lot, and still get a good sound...

You are on a budget so I will try to keep this in consideration and be as helpful as I can.
you will need at LEAST a sound card with decent quality stereo inputs for getting good quality audio from your mixer into your computer (at least 16 bit 44.1k ) and a small mixer with stereo outputs to feed into this sound card. I just scoped a decent, low priced, compact mixer on ebay for around sixty bucks (behringer xenyx 802, alot of people bash them, they do make decent mixers though, just don't drop it....) and if you want to keep every track seperate all the way into the computer I just found a Behringer 1204fx xenyx with more output options, including usb (which would save you having to buy a soundcard) for about 150 bucks

Perhaps the most important element in a recording environment (besides your ears) is the microphone. To get the best sound out of this basic setup you will need three mics, hopefully you can afford to pick up a decent kick drum mic (on the low end look to spend about eighty bucks). If not, three shure sm-57s or sm-58s (or a cheaper knockoff based on one of these models) will do, in a pinch you could use two.

There are plenty of options when it comes to software, there is always protools FREE, some other options are AUDACITY (not much documentation) ANVIL, and other free programs.

Your best option with a simple setup like this would be to mic up the drums in stereo (there are plenty of articles online covering various techniques to get a good drum sound with only two or three mics) with one on the kick drum and two set up in front, amongst, or above the drums, you'll have to do alot of experimenting with placement.Now hook the bass guitar directly into the mixer. Play through a song with the entire band, recording only the drums and bass until you get a good tight take. now mic up the guitar amp(s) and record your guitar tracks over the drum n bass tracks. Again with vocals and any lead guitar or overdubs you need. If you really want to record all instruments live you will need a mixer with at least as many mic pres as you have instruments + 1 for each vocalist, + 1 for each drum mic used. By looking for deals on used gear (try not to skimp on mics) you can probably get away with spending, like Mr. Erk said, about $300 to get yourself a decent recording.

You would do well to either save a bit more ( with some practice you can make some seriously good recordings on a budget of 600 to 800 dollars). Another option is to rehearse the crap out of your songs until you can play them in your sleep and then find a decent studio and you could realistically cut 5 songs and have them mixed/mastered in about 4 hours total for about $300.

For your budget, I'd look at a Tascam DP02 or maybe something from Fostex. You can find them on ebay for about 200 or 300 bucks.

There are older digital machines for sale that will fit your budget, you just have to do some homework on their capabilities and limitations.