You don't want to just pick the cheapest bow you can find, the same as you don't want to go to wal-mart to buy it. Go to a bow pro shop, tell them what you want, & want to do with it. I'd advise a "medium" price range bow. Go with at least a 7" brace height, and 7.5" or more brace height is even better. There's a BUNCH of bows on the market that will serve you well. The reason I STRONGLY suggest going to a bow shop is they will make SURE that not only does your bow fit YOU (draw length & weight), but also it'll be set up & tuned correctly. Don't get carried away with excessive pull weight-my bow only maxes out at 60 pounds. Since I'm a Mathews man, my natural recommendation would be Mission bows-an offshoot company of Mathews (meat & taters bows).
Bows by Mission
I'd also suggest going with carbon arrows. Don't get the cheapest, just get a dozen of whatever brand your local bow shop recommends. The more you pay for carbon arrows the straighter they are. Carbon arrows last a LONG time compared to aluminum arrows. Go with helical fletchings (vanes)-they help stabilize your arrow better resulting in better accuracy.
Go with a good 3 pin sight that the pins are made of steel with plenty of fiber optic "cable" for brightness. You don't need over 3 pins to start with and adding more would just add to the confusion of which to select for what yardage. You don't need to be confused as to which pin to use when a deer is in front of you. Choose a larger aperture peep sight so that it'll be better in low light conditions.
The Whisker Biscuits are excellent full capture rests for beginners but I'd recommend a drop away such as my QAD Ultra Rest Hunter series. It is full capture (meaning it's impossible to fall out of the rest), You can move them into cocked position ahead of time, they stay in that position until actual firing (even during let down), reasonably priced (50-60$), and are trouble free once installed/tuned/timed (by your bow pro shop).
There's so many good releases on the market it's hard to get a bad 1. I personally use a glove type release as it makes it feel as though the draw weight is lighter. Most people choose the wrist type. Scott, Winn Free Flight, Tru-Fire, among others makes great releases. Have I missed anything? Neil