If your PC has got a built-in TV card, it will probably have an appropriate input (for S-video or composite video). Otherwise you'll need to buy something like this:
http://www.novatech.co.uk/novatech/specpage.ht ml?HAU-LM600
Unless your video recorder has an S-video output, you'll need to buy a Scart to AV lead. The video phono plug goes into the USB-Live device but you'll have two phone plugs (for the left and right channels) to connect to your PC's sound card. As most sound cards don't have phono inputs, you'll also need a phono to mini-jack adapter.
Lastly, you'll need some suitable software but the USB-Live comes with some (as do most rival products).
Chris