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If your sound card has 8 analog I/Os, a small mixer with at least 8 busses would be nice. That way you can assign any of the instruments to any input with ease. However, you can go directly into each input if you have the processing power and the program to do the EQ and effects you want. If the inputs are high impedance you can get line-matching transformers, but buying or making adaptors is cheaper and sometimes sounds better because of cheap transformers that are often used.
You can cheat by wiring the tip of a 2 conductor RCA or Phone jack to pin 2 (hot) on the XLR and the sleeve or shield to pin 1 (shield) on the XLR. Just leave pin 3 (cold) empty or share it with the shield. This works fine if the cables are not too long.
If the card supports "digital multi-track", there are a number of options. Many new digital mixers are available at just about every price. It gets kind of complicated, but warrants some research. I don't have time to think about it right now, but it would be an interesting topic.
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