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CubaseVST 32/5" is GREAT for audio recording. Though you have a band/group so let's talk about some hardware too...
Basically you need Cubase VST5 and something like the EZbus mixer/soundcard by Event (http://www.event1.com) which plugs via USB to your PC and lets you control all the tracks of Cubase and mix together up to 18 audio sources realtime (really cool)
Moneywise.. that's 200 USD for cubase (I think), and 700 USD for
the EZbus mixer/soundcard (700 is the lowest price at
http://www.music123.com).
I just found the EZbus yesterday, while I was reading the press releases from manufacturers and thought event are doing a great job (if it works as well as they claim). Very handy especially sicne you said you havea group (i guess with bass, guitar, etc.) you can plug all together on the mixer and record in separate tracks in Cubase.
Before you mix everything together, you need to do a CLEAN recording session first, instrument after instrument (each listens to the others previously recorded in the headphones while they add their own track on the top)
Another solution could be to get
a Yamaha 01V digital mixer and a soundcard with ADAT lightpipe, but that'd be a lot more expensive.
If you have any question you know where to post