When I record, it is usually only 2-4 pieces and it is for a demo. Therefore, we just play directly into my Yamaha AW4412 and I mix it down later. If there is a mistake, it doesn't matter because we're only trying to get a good 30 - 45 seconds of each song. We play about 10 songs. This is to get gigs.
If I were recording to actually cut a track, I would use a computer program and it would take a lot more patience. Probably laying down the drums and bass first. Next guitar, then vocals, followed by any other strings, synths, etc.