Welcome to the Forums!
As previously mentioned, what is it that you intend to fish for? Different species of fish will require different "Techniques" or rather setups that increase your chances of catching fish.
Why do you think fishermen always have so many rods!
That being said, If your looking for a good value/general rod and reel, I would definitely recommend you the following;
Rod: Shakespeare Ugly Stick Rod (These things are virtually indestructible) - longer is better - try to find something around 7', look for a medium or medium light action. (length of rod will determine how well you can cast - distance and control, the action is how much it bends/ "loads up")
Reel: I would suggest going with a 2500 size reel (or 3000) but this really depends on where and how you are fishing. Personally the best "value" reel I see on the market is the President Pfleuger. (Get it on sale!)
Sometimes you can even get these rods and reels as a combo on sail if you shop around enough.
Line: I would recommend you start with 10-15lb test line (again, this depends on what you are fishing for) I like braid personally, it takes more abuse than any other line but can be a pain to deal with if you get a knot. For braid I would recommend getting 20lb (which is the same diameter equivalent as 6lb mono - Means more line will fit on your reel and it will be stronger!)
Example: a 2500 series reel will hold 200 yards of 6 lb mono (approximately), 120 yards of 10lb mono or 200 yards of 20lb braid. (Clearly braid is a better choice!)
Some people like mono because its "clear" and offers some stretch. When fishing for more "finesse" fish, you can tie on a leader using a blood knot to the end of your braid. Alternatively, you can tie in a swivel between your braid and leader. Leader will vary in length depending on what your fishing for but I try to keep my leader at least 2 feet long regardless of the conditions.
If you need help with anything else, feel free to ask!