Voice recognition software

Does anyone have any recommendations for decent, cheap voice recognition software? I need it solely for Word (2010) for typing in large quantities of text in English and (sometimes) German. I have Windows XP. It needs to be easy to run and fairly accurate. I have just looked at a demo on the e-speaking website - the demo for the Word section doesn't work, which is a big help! Any experience of this? I don't want to spend hours setting something up and find it doesn't do the job.

Finally, would I have to buy a microphone?

Thanks in advance.
13:45 Tue 11th Oct 2011
 
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As far as I know if you buy a software package for this it will include all the hardware needed. I have very little experience of this with latest versions of Word.
Question Author
Scotsman - thanks for the answer. If I were to go for e-speaking, as an example, it is shareware and I don't think they would supply hardware. I'm on a limited budget, hence looking for the most economical option.
Cheap and Good don't go together with this software, I think you'll find.
Try Dragon.
Question Author
Ok, thanks. I'll look at Dragon.
I am using Dragon NaturallySpeaking right now via Microsoft Word running Windows XP so I can vouch for it working fine.
I can certainly recommend any version from 10 up (currently 11.5) and it will probably cost you about £40'ish on eBay. Microphones are a different matter and the general rule of thumb is get the best USB one you can afford. I'm currently using a Plantronics and accuracy is pretty near 100% all the time, errors are usually poor articulation or poor posture on my part!

I could even say 'Copy That' and 'Paste That' from Word into here

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