You will need to create a full transcript of the oral history recording. Some prefer to do this by hand, but there are a number of auto-transcription options available that utilize technologies like automatic speech recognition (ASR). If you choose to generate your transcript automatically first, you will still need to edit the text afterward to make sure it's accurate, free of errors, and properly punctuated. Account for the time required to do this and decide whether or not simply transcribing by hand works better for you.
If you decide to get some help from technology, here are some options to choose from. Some of them have a free plan or free trial version available.
[UPDATE 5/20/2020: Otter has recently added more restrictions on length of recording and number of uploads for the basic/free plan, and in general these policies change overtime. For this reason we're no longer asking you to only record Zoom to the desktop. You may record to the cloud and generate transcript that way.]
Soon after you have completed your interview, you will want to ensure that that files you have created are backed up in multiple locations. It is recommended that you use a cloud storage service. While you are affiliated with the UW, it is recommended that you use OneDrive. More information is available on the UW-IT website.