A couple of commonly asked questions:

WHAT is the difference between analog tape recording and random access digital recording?

The "difference" between tape and random access digital recording depends on whom you ask. There are technical and physical differences certainly (which I'll briefly explain later) but sonically the "better" sound is the subject of an ongoing argument among professionals. My personal opinion is that random access digital, with today's high quality digital converters and a high end DAW (digital audio workstation-- in my case software implemented) is sonically superior to analog recording (a linear tape based format).  With digital there's no tape hiss, no data loss as the ferric oxide falls off the tape, no e.q. changes over time as the tape "relaxes", no high media cost (a reel of tape lasting 1/2 hour at 15ips costs the studio -- and therefore you-- $150... probably higher now), and no delicate storage requirements.

 

The physical  differences are:

 

 

WHAT are the steps involved  in recording a CD?

If you have never recorded before, I would suggest you start by recording a couple tunes to get some experience with the recording process. To record for the first time and hope that it comes out acceptable for release, or major label critique is somewhat like taking a fencing lesson and going straight into a swordfight.  You need to learn a little about the craft. Having said that, if by chance on your first attempt your tunes come out great and you want to send them out, you'll have lost nothing. I just don't think it's a good idea to bite off a big chunk at first. Depending on the complexity of your material, and the band's musical expertise, it will take from 2 to roughly 10 hours to complete a couple songs. This is not a hard and fast rule... merely a guideline based on my experience.