How do I record TV shows/video games/movies from my LG HDTV on to my Max OS X 10.7.3?

1. What hardware do I need? Elgato EyeTV, Visiontek TV Wonder were some I found online.

2. Do I need a special software to edit and upload on to my website or YouTube? I believe the hardwares above come with computer editing software.

3. What type of external hard drive should I buy for my Mac that will be compatible to the hardware you guys recommend?

Thank you!