Hmm, if I wanted to set something up quickly and simply…
You need audio recording equipment; I don’t know much about what’s good.
You need software to record and edit it. Audacity is free, and I think people use in for podcasting, youtube has tutorials on it, at least.
I’d probably set up a simple blog using blog software like Wordpress. It looks like the wordpress site has some information about podcasting and a wordpress plugin that looks pretty easy.
I guess it depends on whether you plan to run your own site or use a service of some sort.
(I don’t do any podcasting myself, but that should at least give you some more information)