Here are some ideas for a basic bladesmithing set up.
To start off with you will need a forge. The ground forge is probably the easiest forge to make. Its simply a campfire with an air supply being pumped in through a tuyere. This is a great way to start if you plan on using a wide variety of sized projects. I suggest using something that is more designed for the bladesmith however. This will cut down your charcoal fuel consumption drastically. Here is some photos of what I use as an example.
You will also need an anvil of some kind. The classic London style anvils are expensive and unnecessary for bladesmithing. A chunk of mild steel 4 x 4 x 14 set in a 5 gallon bucket of reenforced concrete is what I have used for years and has served me well.
Most beginners are under the impression that a hardy hole is required in an anvil but I use another basic tool to hold any cutters or tools that would normally go into a hardy hole. The standard post vise. Big post vises are very nice to have but a 3 1/2 inch jaw model is enough for almost all of your vise needs.
Here is a picture of the standard blacksmithing hammer. The 3 pound size is recommended for the beginner. The cross peen style in this picture is not required. I prefer a regular sledge type hammer with one of the faces domed and one left flat.
Two pairs of tongs will get you through almost anything needed in bladesmithing. If you forge the bolt tongs out a little so that the jaws are more extended they will work very well for holding onto the tang or the blade end while bladesmithing.

A bit and brace works well for drilling out the slot in the handle material.
Here's what I use for quenchant containers. They are 81mm ammo cans and measure about 6"x14"x23" tall. I see them regularly on eBay.
Miscellaneous items needed;
A place for ashes.
Slack tub
A basic selection of files, punches and chisels.
Some 100 grit cloth.
A bow saw.
Tin snips
Marian's Little Wing Forge
Remember - Always use proper safety equipment and have a fire extinquisher handy.
Check out this African set up;
http://www.artmetal.com/project/Features/Africa/29.htm