I would recommend a standalone multitracker rather than using PC based software because you mentioned easy/cheap.
Something along the lines of a Zoom MRS-4 is a great wee unit (had one myself).
Very small and easy to use, they record onto flash cards,have on board effects and you can overdub other guitars etc.And with being digital they are easy to edit with as well.
You can get surprisingly good results from a small and inexpensive multitracker all you really need with one is a drum machine although slightly more expensive ones have a drum machine and usually a bass machine inbuilt.
You obviously will need a couple of mics but you probably have one if you have been playing for years.
You should be able to pick one up for well under $100.