If your monitor has DVI-D then use a HDMI to DVI-D convertor and simply plug your HD cable to it, these convertors vary in price but shouldn't cost more then $20. If you don't have a spare pair of speakers, take the speakers from your computer, use the analogue PS3 cable to RCA and use an RCA to 3.5mm jack socket adapter so you can plug your speakers to it, these adapters cost about $3-$5. 

If you don't have a DVI-D connection on your monitor and only VGA, then you will have to find a device like a PC to TV box (about $30-$50) which consists of a VGA to Composite adapter, or you could buy a VGA to HDMI adapter but these are very expensive.

Franco