Reason is the one of the best programs used to produce music, the Propellerhead software is a complete studio in a box. The software includes : A master mixer, ReDrum and Dr. Octo Rex (drum pads), Combinator, Maelstrom and Thor (synthesizers), along with many effects and tools to make your music sound just right. You can also record on Reason 6.0 and you can download refills for more sounds.
Logic pro is a Digital Audio Workstation in a box and is made by Apple, it's priced at 199.99 in the itunes store and comes with everything you need to get started in producing music. Logic is like Garage Band on steroids, you can produce good music with the software they give you and it's relativley cheap.
Pro Tools is used strictly for recording and editing music, it's known as the industry standard for recording lyrics. PT has a number of plug-ins and is really easy to learn how to use. Avid Pro Tools 10 just came out and has the latest cutting edge software you need to master and record. >
Ableton Live is like Reason and Pro Tools combined, it's an excellent program that can be used for producing and recording. It is especially usefull for mastering your music. Ableton is a bit difficult to learn how to use at first but, once you get the hang of it the potential it holds is legendary.