My video camera is just a regular tape using camera. Is it even possible?

You can get USB adapters that have RCA plugs. With the software you can playback on the camera into the adapter while your PC reads and records. I think a brand is "Dazzle".

buy a capture card..

most of old age video cameras does not have digital I/O that means no IEEE1342 or USB or DV port. It has only RCA or MINI I/Os. you have to use vedio capture card (external or internal) and proper cabels to connect camera and pc,capture cards provide the capturing software,