a standalone solution is not going to be that flexible at that price something like the boss micro recorder may help Boss Micro BR Digital Recorder from zZounds.com
or any listed here within reason will do the same zZounds.com
if you have a pc/mac a toneport UX2 is a handy interface, as rockinrich suggests. I have one and it is quite plausible to record a whole band using it. Or any other Pro Audio card will do the same job (they tend to start at $99).
As far as software goes - check out the sticky thread on this forum for recording software as there are a few free options listed there.
"All right, but apart from the sanitation, the medicine, education, wine, public order, irrigation, roads, a fresh water system, and public health, what have the Romans ever done for us?"