I am currently part of a heavy rock group, and I have a computer that I would like to try to maybe throw down a few demo recordings of the band, but i'm not 100% sure what equipment I would need for me to be able to do that. I would very much like it if some of you wouldn't mind maybe letting me in on some information you might have reguarding this. Thanks for your times guys.

I'm not sure to understand your problem. You want to know what you need to turn your computer into a recording studio, that's it?

Well, you need a decent soundcard + a recording program + a sound editor + a few effects + a sequencer + a few mastering tools. Check out the free software all around : some free tools are more than decent.

Ok, but how could I connect mics, guitars, bass, and also record a drummer on my computer? It doesn't have to be top notch sound, but it doesnt need to sound like I just took a computer mic and put it next to the amp or something.

Ouch...

You know what? It would take ages to tell you all about all these things. Actually, this is the job I'm learning.

First, what equipment do you have? (computer? soundcard? microphones? d.i? ...)
What do you want to record? (number of musicians?...)
Do you want to record the musicians playing all together or one after one? (one after one has a better result for studio recordings but it's not that easy to do...)

mic everything with that small computer mic into the recording software then mix it. Those small condenser mic can have pretty good sounds