I want to have my computer speaker output go, instead of to normal speakers, to my stereo system which only has those red/white cable inputs on the back(as used to hook PS2, Xbox, etc audio up to the TV). Is it possible to do this and if so what cables do I need
You need a 3.5mm stereo male jack to 2x cinch male. That should do it. You can get such a cable in any audio equipment shop that is not complete crap. Mostly you can find it in the electronics section of bigger stores as well.
(http://www.shoxx.com/catalog/imagemark.php?image=images.products/k/KAB053_pic1_1.jpg)
Just got one today. Tiger Direct wanted 5 bucks for the 6' version of the cable where as Best Buy wanted 30 bucks for the same 6' cable -.-' I got a 25 foot extension cable as well from Tiger Direct to hook up my TV to the stereo system too and together both items came out to be about the same as the single cable from Best Buy after tax
Lol, yeah. You have to check out several options, the prices can vary a lot. I would have done the same as you.