Here is a small guide on how to record a both way conversation on skype.

In this guide you will need to purchase a software which cost around $15, because from personal experience this software is the most easiest one to use and can be run easily with skype and other chat software like Google Talk. The software can be found here .

I recommend you spend that $15 if you are going to use it regularly, and not only it can record your conversation there is also an option where it can act as a voicemail. The software can be set to take in the call, record the message and even mail you the message through email.

Ok lets start the tutorial.

Installation
First acquire skype from http://skype.com & hotrecorder from http://hotrecorder.com ($15)
Now install skype and follow installation and registration instruction on screen.
Once skype have been installed run the setup for hotrecorder, and after completion hotrecorder will setup with skype.

Recording
Go on skype, once it has loaded fully run hotrecorder.
Now click the contact you want to talk to and call him or her.
Once it has established connection click the record button on hotrecorder.

Now when you finished with the conversation click stop on hotrecorder and it will encode the conversation.
You can play back your conversation through the player.

Changing the file to Wav, mp3 or OGG
With hotrecorder you can convert any recording to mp3 or ogg with their own tool, but you got to have a full version of hotrecorder to use it.

Just select the recoreded file and run the converter, it’s quite fast and simple to use.

Now the rest is just for you to edit the sound and upload if you are podcasting.
Else do what you want.