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The person who wrote this article recommends starting small. That means you need a host, a domain, and a computer with a microphone and headphones. He says you can do all that for less than $100.
Of course, the most important thing you need is a good idea for a podcast and a strategy for developing ideas and an audience. Once you start to 1) get better 2) grow an audience 3) become more ambitious (more than one host, guests, remote locations), you can consider buying more equipment.