I'm going to go out on a ledge here and give you a longer list of what you need than many other sites may venture to give you.

What you Need:

Onto the technical needs:

Most of you know how to get Windows XP (buy a computer, or build one and get a license to install it). Now, onto the software packages... download from Microsoft's XNA development center here.

This would be a great time to read through Microsoft's brief XNA FAQ page.