Audio Interface & Core

Audio interface (converts analog signals to digital)
Studio monitors (near-field speakers)
Headphones (closed-back for tracking, open-back for mixing)
Studio desk/console

Microphones

Large-diaphragm condenser mic (vocals, general purpose)
Dynamic mic (drums, guitar cabs, loud sources — e.g. SM57/SM58)
Small-diaphragm condenser (acoustic instruments, overheads)
Ribbon mic (optional, warm tone for guitars/brass)

Mic Accessories

Mic stands
Pop filter
Shock mount
XLR cables

Preamps & Processing

Mic preamp (often built into interface, or standalone/outboard)
Compressor (outboard or plugin)
EQ (outboard or plugin)

Instruments

MIDI keyboard/controller
DI box (for guitar/bass direct input)
Guitar/bass amps (if recording amps rather than DI)

Computer & Software

DAW (Digital Audio Workstation) — Pro Tools, Ableton, Logic, FL Studio, etc.
Plugins (EQ, compression, reverb, etc.)
Fast computer with sufficient RAM/storage
External hard drive/backup storage

Acoustic Treatment

Acoustic panels/foam
Bass traps
Diffusers
Isolation shield/reflection filter (for budget setups)

Cables & Power

XLR, TRS, and instrument cables
Power conditioner/surge protector
Cable snake (for multi-channel setups)