my advice, buy one of these kits, the ones with the mold of course if they aren't what you're looking for try lurecraft.com or bobstackleshack.com, buy a cheap $40 microwave a few pyrex cups and a few dollar store butter knifes and you've got enough to get started!!
From there, you should know pretty much what you're missing... it's not really that complicated once you have it in your hands and have played around for a day or so with it... as you get further on, you can make your own molds, with plaster of paris (referred to as POP), of baits you've designed or want to copy... couple hundred dollars investment and you'll have enough plastisol to pour several thousand worms...
http://www.del-mart.com/shop/home.php?cat=254