This is for either bankfishing or trolling. I fish different ways and use pretty much the same rod (exceptions being for larger bass, I have a separate pole for that). I am no expert at this but I have been fishing for quite some time and my father spends a good chunk of money on fishing gear. My opinion might vary quite a bit from what others might have. I have no fly fishing experience but I have heard wonders about fly fishing from those that do.
I have noticed that I have done quite well with a light rod that is 7 and a half feet in length (Okuma). Sensitive, yet durable enough to fight a fish. I bought a couple ugly stiks for the kids that are 6'6" and they aren't nearly as sensitive but they have a 5 year warranty, although they should last you a lifetime. You can go with either ultra-light, light, or medium. You won't want to go with a heavy rod and if backpacking/hiking, I think a light might be easier on your back. They will be just right for creek fishing should you find a decent spot. The good thing is most rods can break down into two pieces, although might not be as small as you'd like, better than nothing I would think.
As for reels, be best to start out with a spinning reel and find one that feels good and smooth. They are all comparable but like some people might say, you get what you pay for.
Line is not something you want to go cheap on. If you buy the cheap stuff, plan on fixing your loops and birds nests often, as they aren't smooth on the cast as much as something like stren. I have heard wonders about spiderwire, but never tried them. Best bet is to start out with 8 lb mono line by stren. Good for starting out and catching a variety of fish.
For hooks, get snells for trout (great for powerbait or eggs and you can also catch creek trout with these)
4/0 or larger for bass (any smaller and they can bend, as I prefer to hook them like I am trying to turn them inside out. Bass are tough fish.)
4/0 or similar for catfishing (can use snells for the smaller catfish)
They have crappie fishing jigs and tubes/grubs for crappie (or panfish. Pretty much same thing and involves perch as well).
As for bait, it all depends on what you are fishing for. Trout will go after worms, powerbait, eggs, spinners (mepps, rooster tails, and panther martins work wonders in my area).
Bass will go after spinnerbait, worms, soft plastics, crankbaits, topwater lures, etc.
Catfishing is not something I am highly experienced in but I have seen worms and chunks of meat work well for them.
Now for brands, I bought the kids an ugly stik rod (6'6''), an okuma reel, a small tackle bag with carry strap, powerbait, hooks, sinkers, bobbers and ended up paying about $250 (Two kids, so about $125 for one person). This is just so you can see what you might end up paying, and I bought all these at Bi-Mart. You might want a different variance with what I listed dependent on what your budget is and how you want to start out. You can spend a good chunk of change starting out then spend less and less in the long run to just add to your collection. Starting out usually costs more until you start getting the higher quality/priced goods, which can run you pretty high depending on what you are fishing for and how you fish.
You might want to consider getting pliers for hook removal, and if you're conscious about catch and release and not tearing up the fish, you can pinch the barbs off the hook (got a friend that will do that just to help reduce damage to the fish's mouth.) The downside to that is the hook can fall out easier if you let the line go slack too much.
Hope I helped you out with this. At least some part of this anyways. I do what I can to the best of my ability.
