Well, all this is in the FAQ already, but what you need is:

- The serial cable, and it has to be the right one and it has to be working.

- The logoedit software (linked from the Hijack page)

- The hijack kernel (also linked from the Hijack page).

Assuming that you don't need to install the visual-basic runtime modules to get logoedit working, then you just run it, pick "kernel flash utility" from its menu, and point it to the kernel file.

If all goes well, it might only take two minutes after you're done downloading things. Of course, there's a bunch of places things could go wrong in that process, so that's what the FAQ is for and why it's so much more wordy than what I just wrote.