Multi-Host Setup
Recording two or more hosts in the same room requires either multiple USB microphones (with the latency and driver coordination that entails) or an audio interface with multiple XLR inputs. The audio interface route is more reliable and produces better results when the budget allows for it.
The Focusrite Scarlett 2i2 handles two XLR microphones and connects via USB. Combined with two cardioid dynamic microphones, this represents a two-person studio setup that produces professional results. The total equipment cost is in the $250-$350 range depending on microphone selection.
Equipment