A free recording studio would be nice! And you’re sitting in front of one right now!
Welcome to the world of Virtual Studio Technology, or VST. Several bundles are available which are designed around the idea of plugging a microphone into the input of your computer’s sound card, converting the recorded material to digital format, and then subjecting the audio files to whatever modifications you may desire.
Two of the most well known packages available are CakeWalk and SoundForge. They both feature very simple graphic user interfaces, (the “screens” that visually demonstrate what’s happening), so there’s not a very steep “learning curve” to contend with. And simple really is better!
Both manufacturers have state of the art packages available commercially, but they also have “demo models” available for free download. Instant gratification at a cost of zero!
The only downside to this approach is that, as you are using a computer sound card as your only input, you can only record one track at a time. Getting all those tracks recorded can be a long and time-consuming process. However, once you’ve finished the actual recording, you can also get free software that does the exact same things as all the expensive sound processors in any pro studio in the world. And I do mean any.