This is a fairly easy thing to do, except I had terrible trouble trying to "publish" it to the web. Most people will probably have more problems with the recording process if they don't have the software, but I can help with that. Altogether it cost $0 for me (but I already have a good mic, stand, and USB phantom power machine thingy.) The microphone will probably be your most expensive investment, but it also allows you to open yourself up to a much wider platform to get your ideas out from under the bed to out in the real world. So head on down to radioshack and buy yourself a decent mic. About 20-30 dollars is the cost of one of the first mics I had from there.
So, after you purchase your microphone or get one that was in storage above the garage, now its time to get it hooked up to the computer. If it has a 1/8 inch jack, you can plug it directly into your computer. If it's a 1/4 inch jack, you need to put your coat back on and get back to radioshack to buy a pack of adapter. These come in really handy and they're probably only about $5-10. It looks like this But definetly go talk to the dude at Radioshack, he can get you set up, especially if you got an XLR jack, in which you need XLR to 1/8. This is getting technical and it shouldn't be. Just use common sense. It needs to attach to the computer.
When you're this far, there's no turning back. Now you just need some simple audio editing software like Mixcraft 4. I've heard rumors that you can get these on Torrents on this "interweb" thing we have, but I don't even know what a torrent is so I wouldn't know...
You can also get simple audio programs from Download.com, many of which have free trials that can last up to a month. Here's an example Test different programs and see which one is right for you. I added some music just to mix things up (no pun intended) but you don't have to. Save your completed file as an mp3 encoded at 64kpbs. This gives you a compressed file that sounds like its on FM radio
The next thing is to publish the podcast, which you can do at ourmedia.org If it is a file larger than 10mb, you will need to upload it either directly to archives.org or download spin express. I chose the later, and it is available on the Ourmedia page for Uploads.
Then you have to wait while it uploads and you can then take the URL and place it in a box like the one directly above this post, or you can just send the link to friends. Voila! You've just created your own Podcast!

Oh the most important part--you need to have something to say. Do you?