Audio only or audio/video? Audacity is only for audio…
to record the audio with Audacity, connect the RC left & right audio connections to line-in on your soundcard (with the appropriate adapter cable). If you have a laptop with only mic-in and headphone-out, you’ll need a USB interface with line inputs.
I was reading I would need an HDMI outlet or s-Video outlet in my PC running XP or Windows 7 to migrate if in from the TV.
To record the video, you’d need HDMI or S-Video inputs or a video capture card/device (which usually comes with the video capture device). HDMI carries audio and video. S-Video is video only. Of course, almost every computer has a video output of some kind but video inputs are somewhat rare.
If you want to capture (record) video [u]EZCAP[/u] has a good reputation. But, be careful of “fake” EazyCAP products, etc.