People do manage to record Skype conversations as successful podcasts in Audacity, but they’re digital celebrities and their experience is not universal. The only guaranteed method is to use a separate application that “knows” how Skype works such as something from the Pamela suite or one of the free offerings.
Fair warning not to use an application that insists on recording MP3 (never do production in MP3) or one that insists on smashing both conversations into one sound file. The upper two Pamela applications, Business and Professional can record two separate WAV sound files suitable for post production.
http://www.pamela.biz/en/products/
https://forum.audacityteam.org/t/help-recording-with-a-mic-laptop-and-headphones/35068/6
You can also go the hardware route with two or more computers. This is a shot from the Pando Podcast.
And that’s how I did it.
Koz