I already have a microphone and a laptop but do I need anything else?
And should I edit the recordings with Audacity or is there something better that is free?
You can do something with little or free means, but then you usually only have limited options, limited quality and other restrictions. In addition, you often have to edit, etc.
I mean, if you already have a microphone and a PC / laptop, that's enough to start with. Audacity can record and edit, but it's not a real DAW.
Check out DAW (MixCraft, Cubase, Ableton, Bitwig, FL Studio, Studio One, etc.).
As a beginner I would recommend "MixCraft" because it is a real DAW, but not too complicated. You can use it to record, cut, create audio and midi tracks, incorporate VST effects and instruments, etc.
Test Audacity, if it's okay then stick with it. You can also test a DAW (MixCraft). If you like it better, choose that.
Website: https://acoustica.com/mixcraft
Downloads: https://acoustica.com/mixcraft / download
Direct links:
https://acoustica1.cachefly.net/mixcraft9/rs/Mixcraft9-64-Installer.exe
https://acoustica1.cachefly.net/mixcraft9/rs/Mixcraft9-32-Installer.exe
At some point, if it should get better, you can still buy an interface (USB), a clever XLR microphone, studio boxes, pop filters and a good DAW.
Basically you will have a "home studio" like me. It's not always because of the things that you (don't) have, but because of what you make of them!
I use Adobe Audition and WaveLab for editing. For music generation ProTools, Cubase, FL-Studio & SaDIE.