There are now many websites that allow you free access to conversation exercises and vocabulary drills among other things. My personal favorite is LearnSpanish.com. I am sure it is structured much like its competitors however when I find something I like I tend to stick with it. This site allows you access to an amazing amount of drills and exercises for free. It of course also has another more extensive version that you have to pay for as I am sure most of the websites do.
So you can very simply sit in front of your computer and commence your lessons. My one recommendation though, is that if you plan to learn Spanish online, do not do what I did and go to an internet café to do so. If you do not have a computer try to find a friend that will let you borrow a laptop or come to their house to study. Trust me when I say it is very difficult to do pronunciation drills with 20 people who all speak the language perfectly sitting around and looking at you like you have lost your mind.
Of course it is probably close to impossible to actually learn Spanish solely online as it is quite necessary to hear the pronunciation and practice with actual human beings in order to be able to carry on a conversation. However if you are looking for some base knowledge to work with the internet provides a wealth of possibilities.