Ideally you would have a dedicated room filled with studio equipment that has been dialed in for an excellent result. But just suppose you didn’t have a few thousand dollars to set up a perfect rig? Well here’s three excellent videos on zero or low cost lighting and sound:
Here’s an excellent video on free lighting tricks, by a professional producer:
And a little more advanced video on managing shadows, but it does suggest buying some equipment
I am not a fan of single ringlights above the monitor; they make you look like a cardbord cutout. The videos above do a good job of showing better setup.
For sound any lapel mic or headset mic will do a good job. These do not have to be expensive, here’s an excellent video: