Recording both ends of a telephony call is necessary in order to stream and record a live, interactive webcast. This is usually the trickiest part of webcasting as most systems are not set up to record your voice and those on the other end of the call.

 
If you want to record a telephony call without streaming, you can use a number of skype 'extras',  3rd party recording programs, or telephony programs that support recording.  Please note, this will not be adequate to stream both ends of a telephony call.  It will only allow you to record the conversation and record it later.

 
  Telephony Programs that support recording:  Gizmo , ooVoo (premium version)

  Other Programs & Guides