Audacity
From the site: Audacity® is free, open source, cross-platform software for recording and editing sounds.
You can use Audacity to:
Record live audio.
Convert tapes and records into digital recordings or CDs.
Edit Ogg Vorbis, MP3, WAV or AIFF sound files.
Cut, copy, splice or mix sounds together.
Change the speed or pitch of a recording.
And more! See the complete list of features.
http://audacity.sourceforge.net/
(checked 12-3-12)
Latest install used by me is attached below; newer version is available (add .exe to the filename after download).
Other items used with Audacity (also attached below; add .exe to the filenames after download):
For FFMpeg/LAME on Windows:
FFMpeg Binary for Audacity 1.3.10 or later on Windows (THIS IS NOT LAME!):
FFmpeg_2009_07_20_for_Audacity_on_Windows.exe
Website for the above items:
http://lame1.buanzo.com.ar/#lamewindl
dbPowerAmp Music Converter
I used to use this, until Audacity incorporated the ability to open/edit/convert WAV files as well as MP3s. Latest install I used is attached below (add .exe to the filename after download).