I have a digital recording (made on a SONY ICD-P210) of a meeting. It has some static and background noise that I need to go away so the voices can be better heard. What do I need to accomplish that? Thanks

 

What you need is an audio signal processing setup that will allow you input the original recording on one side and output a processed recording on the other side. In between will probably be low pass filters and an amplifier that will try to reduce the noise and enhance the primary voice spectrum below about 3 kHz.

You may or may not be happy with the results. It will sound very much like a terrestrial land telephone line.

The more expensive the equipment and the more expert the practitioner the better the results will be, but don't get your hopes up.

 

... Is that a home brew or does that critter come in a box. If so what is it called? Will an equlizer produce similar results?

 

You could also transfer the audio track to your PC and use some of the nice noise reduction software packages about.
Be Warned, once its on the tape, it could be very hard to minimise without doing damage to the audio you actually want to keep.
The best bet is ALWAYS to get it right in the original recording by using either an external, or wireless mic / mics, as close to the source as practical.