This solution certainly is quiet, and with no stick response you have to work harder which is good practice (along with practice w/o the pads).
http://www.amazon.com/Vic-Firth-prep...346176&sr=1-17
But there is no sound from the drums themselves.
A cheaper way is to simply drape a thin cloth over each drum. For the bass you can remove the front head and stuff a pillow or comforter in there.
For something a bit less drastic than pads but louder is that there are many types of muffling materials for drum heads. You do not need to pay a lot at a music store, Dr. Scholls adhesive foot strips work for example, or different types of tape.
With cymbals you can experiment with strips of duct tape on the bottom. Crash cymbals are going to be loud no matter what, but try to control how hard you hit them (dynamics).
As your skills develop, you will be able to control your volume to a certain extent.
Really you also need to sound-proof your practice room if possible to be able to have at least some experience playing your instrument as intended.