If you are just recording audio...
Monitoring and adjusting the mic is done through a combination of software and hardware, and getting the setting/preferences of the recording program correct.
What operating system are you using?
To monitor you should be able to use the headphone jack on any computer. A lot of recording programs will have a selection to "play while recording". This lets you hear real time what you are recording. Sometimes there can be a delay (latency) when doing this.
If you run into a delay while real time monitoring, without getting into purchasing hardware, the best way to work with the mic is just to record a short track, listen, adjust, record, listen, adjust. It's a pain but it's free. Once you get it right, write down the settings.
In terms of recording software...
Both audio drivers and recording software make a difference. The ASIO4All drivers mentioned earlier are better quality audio drivers than the standard Windows drivers.
Under Windows, Kristal Audio Engine works with ASIO4All drivers. I believe the latest version of Audacity can also.
In Linux and Mac OSX, Ardour will work with ASIO drivers.
Kristal Audio Engine also has the ability to work with VST plugins in real time (Audacity uses them after you have recorded). This means that with Kristal you run the recording through the plug-in while recording. So if you are using a "de-esser" VST (removes the harsh "S" sounds) it will help knock those down as you record as opposed to doing it after the fact (though you can do post recording clean-up also in Kristal).