Family Tree tracing - recording memories.....

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I'm doing some Family Research and will soon be speaking to some of my older relatives and need a method of recording their memories.

Any suggestions what would be the most suitable method of recording ? I might possible camcorder it (I've got one of them !), but maybe a better way is to voice record it.

I need a device that will store a good few hours of speech, so maybe Digital storage.

No more than £50 (if that's even possible).

I'm not up on the techie side of things, so any thoughts much appreciated. Maybe something that the Press use ?!?!

Thanks.

T4i

Something like this?

http://www.pixmania.co.uk/uk/uk/51907/art/olympus/vn-120.html

Dictaphone, or if your p.c has a soundcard and microphone you could straight record the recordings onto p.c then burn to CD.

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Thanks for the suggestion - I'll look into it.