Hey Reddit, I have been told to start making commentary videos of games I play. How do I do this?

Hello everyone. So I play a lot of games on and offline. My friends seem to think that I have a talent for making the game more enjoyable through general trolling, commentary, jokes etc. I have seen a number of people make videos on youtube (the best I have seen is The Auzzie Gamer) and I would like to give it a shot just as a hobby. I had a look online but there seems to be general confliction and confusion between different websites about what is best for me. Sadly I have no idea how to do this so my question is: What equipment do I need? What software do I need? How much will it all cost me?

Btw - I use an Xbox 360 for gaming and I do have a Gaming laptop that should be strong enough to edit on.

Thanks very much everyone for reading and whoever helps.