Fandubbing :: Where do I begin?

Fandubbing is the process of getting a clip or episode from an anime or television animation that you enjoy and would like to try a shot at and working with your own voice actors in order to create your own version.

What equipment do I need?

A computer system
Obviously, this is important. You need a computer in order to see the open projects and check on their process. Also, to audition for things [it also helps in reading this post so yeah].

A good microphone
It doesn't have to be the latest high-tech £300 microphone that is the hottest selling item this millenia. Just a simple microphone is necessary. You obviously need one of these in order to record your lines.

List of Do Nots
. Do not use a microphone with too much static or fuzz
. Do not use a webcam mic
. Do not use a microphone that has already been attatched to your laptop or computer

A good program
Any good producer needs a good production program. Windows Movie Maker is free and, 99% of the time, is already available on your Windows computer system. However, this can only do so much. A better, well known program is Sony Vegas which is more advanced than WMM but does the trick perfectly. There are many more which will be provided later on.
Recording wise, Audacity and Adobe Audition are the two most popular recording systems. Both have a noise reduction feature which can help to cancel out static and fuzz and they can also create effects [e.g. telephone, robotic, etc] which can be used in productions.

I don't have alot of money so what is best for me?

If you want to work for free, then that is impossible in the mic department. If you want a good mic, then they are possible to pick up at your local supermarket or department store. Although they do have some static, it is usually so small that it is simple to cancel out with a noise reduction effect.
Programs can be free, however. Windows Movie Maker is the best free video program and usually comes installed into Windows computer systems. Audacity is a free download which creates many effects in your recordings. These are the best.

However, if you want to do exceptionally well then you may have to splash the cash.