From Lisa Durff

You only need two things to create: a headset and Audacity (with the
llame file both of which are free). After creation, export as mp3 on
file menu. Then upload to Podomatic (also free).
So go to
then choose my podcasts
then post an episode
record it straight in…

Then embed a player, url link, or something where you would link the podcast. I don't often
use the podcast url space because it tends to confuse the learners.
Podcast away!

Making your podcast more pro
Podcasting presentation
Podcasting 101

Great examples of podcasts: