If it's computer based, you'll need more inputs on your audio interface...(use it as your mixer)
Guitar = 1 input
Bass = 1 input
Key boards in general 2 or more inputs.
Drums minimum 3 mics (Drummer's got to be consistent). 7 or 8 mics for multi-tracking.
If it's analog,
Plug everything into an Analog mixer. (14 to 16 channels with at least 4 busses if routing to an Analog or Digital recorder).
Analog gear=No latency.
Protools is no longer the industry standard. Companies like ESPN and HBO Asia have moved on with Logic.
Search for the list of DAWs posted here on soft. Each has their own workflow, strength and weaknesses. Don't worry about standards as long as your DAW does the job for you in a snap.
I'm using Logic Studio.
R.