The best is a capture card or a video card with a video-in slot, usualy called VIVO cards, because video in video out.
Buy a good one, it's important to have a card that can capture in 640x480 pixels or more.
You can connect your video tape player with composite cables: thos who plug into the white, black and yellow slot on the back of the player.
There are also peritel to composite converter, these very large cable that looks like computer cables but are only for video.
If the player has a s-video output (a 4 pins slot) and the capture card a s-video input it's even better. But it's rare that analog devices like a video tape player has a s-video out. They usualy are s-video in. Be careful.
You connect the audio by two (stereo and mono) composite cable (the white and the black or red ones) to the audio input of your mother board (if she has a imbedded audio device) or of the audio card of your computer.
Check if you have a audio in on the back of the computer case.
You will need a convertor to join the two composite audio cables to the single headphone-like slot of the audio in of the computer.
Thes cable convertors are not expensive.
When you got your good and expensive capture card, you need at least 30 Gb of free space, 60Gb is better. Everything depends in what format the video will be captured.
capturing video means recording the vhs tapes to a digital format on the hard disc.
If it's uncompressed it will take 20Mb per second for a 640x480 resolution.
If it's compressed to mpeg2, DivX or Asus (asus cards only) formats it's about 2 Mb per second.
Nowadays most video capture card are able to compress on-the-fly (real time without loss) to mpeg2, divx or similar like asus.
The audio in the video must always be captured in non compressed pcm.
When you have done your capture (after a few dozens of re-tries and re-settings to get things right)
you will have to compress the video to divX and the ausio to mp3 (most recomanded formats) in order to reduce the file size to fit the movie on one CD-rom.
To know more about recompression and tv/vhs capture please go to:
http://www.divx.com
http://fullart.topcities.com/aviutl.htm
http://www.doom9.org/index.html?/guides.htm