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Free alternatives to Ableton for live looping and acquiring sounds for my Akai MPK Mini II

I'd like a normal keyboard sound on my keyboard, and some drums on the velocity pad, I asked the question earlier and I was recommended Ableton which is quite expensive. Basically I just need a software that can

1. Give me enough sounds to have a basic piano and drums set to my keyboard and velocity pad
2. Be able to live loop the things I play on said piano and drums
3. Preferably also be able to loop external instruments like my guitar, if I plugged it into my computer.
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