Do I Need A Hardware Based Compressor ? Options

[shaneblyth]

I am setting up my home studio and wanted to know if i require a hardware based Compressor for the vocals as I record them or if there is a way to get round it and compress as I record with various DAW software.. like Logic, Ableton Live 4 or Tracktion?
I am trying to save a little money and this is not a commercial studio as I am sure you have guessed but I definitley want to compress on recording then do a little more in the mix stage on the Vocals

[tunetwister]

I try to record well bellow 0db to allow head room. I only use a compressor as a safty net, I set it up as a limmiter. I actualy only put limmiters on possible trouble tracks, most tracks just the from the board to the Audio interface, not limmited. Yes you can realy mess up a recording with commpression. I should have made this clear as many people here are new to recording.