Yes you can plug it in the microphone jack with a few extra components.
Here what schematic I have found on LIRC's webpage (by Matthias Ringwald):
As far as I know most IR signals are Manchester coded:
- high to low transition means 1
- low to high transition means 0
Or the other way round because there are two conventions.
Be sure to check SB-Projects for information regarding different IR protocols.
To view the signal on your PC I recommend Christian Zeitnitz's Scope and to record it try Audacity.