Can I connect an external audio source onto my Macbook?

MacBook Pro (13-inch, M1, 2020)

This project is to connect my MacBook to a tape deck / turn table via the (one) Microphone port? After searching Audacity's manual, the Apple forum and other online sources it is still not clear if this is even possible, or worth doing given the quality of non stereo sound. When I plug the audio / RCA cable in, nothing can be detected in the Sound > Input Mac settings. Should I use USB C instead (new cable needed)? Another Mac?? thanks for any tips.