There are a lot of software applications out there that will let you record your Skype telephone conversations. While they are all good, most of them have a big problem: they cost money. For a cheap-o like me, that's a non-starter. There is one application though that is free that lets you record your Skpe telephone calls and you can find it here: http://www.prettymay.net/.

It does have some limitations on how long of a call can be recorded, but you can't beat the price.