Determine which method is the most practical for your recording needs. If you're a hobbyist, there's no need to spend thousands on a professional recording set up. If you just want to have some fun, invest in an inexpensive portable 4-track music recorder, or recording software with an interface that allows you to connect a real microphone. All of this can be found at musiciansfriend.com, americanmusical.com, or your local music store.
Read the instructions included with your specific recording interface to learn the basic functions (track selection, record, rewind, fast-forward, play). If you plan to get serious about recording, spend time studying your user's guide to get familiar with some of the more advanced features.
Select the music you plan to sing along with (karaoke track or other instrumental track), or have musicians record instrumental parts on separate tracks.
Record your instrumental music. If you are using an instrumental piece of music to sing along with, connect whatever medium of playback you use (i.e. CD player or computer) to your recording interface using the proper cable. If you are working with musicians, have them record their parts one at a time on separate tracks or simultaneously depending on how many input sources your software or equipment can record at once.
Connect your microphone to your recording interface or stand-alone multitrack recorder.
Connect headphones to your recording interface or multitrack recorder's output. Don't play the music you plan to sing along with through speakers because your microphone will pick up the output from the speakers. This will create an undesirable echo effect. If you want to add echo to your vocals or background music, consult your user's manual for instructions on adding reverb to the recorded tracks. Reverb is an adjustable echo effect that can add fullness to your live or recorded music.
Rewind all previous tracks to the beginning.
Record your vocals on a separate track as the previously recorded background music plays through your headphones.
Rewind all of the tracks and play them back simultaneously to see if you are satisfied with your recording. Re-recording as necessary until it sounds the way you want it to.
Consult your user's manual for instructions on mastering your tracks and recording them to CD or converting the piece to an MP3 file.