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Having not set one up myself I am not the best person to speak up on this matter, but seeing as practically every podcaster talks about what they are using to podcast, I have a little knowledge. There are basically two things you need to podcast, a microphone and a computer. The computer needs to have some sort of recording and compressing software, it sounds like a favorite is Apple's Garage Band and I have heard Audacity is good for Windows. You then just need to send your podcast out into the world. This is done with some sort of RSS or Atom feed ( you can just post MP3s on a website, but then it isn't technically a podcast), that subscribers (or more specifically the subscriber's pod-catching software) use to be directed to and download your shows.
Those are the basic steps anyway, there are much better and more detailed guides out there, I am sure a little google-foo will find you a better tutorial if you are really interested in creating one. There is also a book by Todd Cochrane that has been released on podcasting as well as some more books on the way. If you do decide to podcast a show add a link to your show here for us to listen to!
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