With Home Audio Editor you can:

Open, create, and save audio files in any of the supported formats (can also save any portion of a loaded file to disk as a new file);
Display audio data waveform (Zoom Full, Zoom In, Zoom Out, Zoom Vertical);
Play audio files or any portion of the files (Play, Pause, Stop);

Record audio data from a microphone or any other available input device (you can record audio from DVD / VCD / CD Player, MP3 Player, RealPlayer, Windows Media Player, Web Page, Internet Conversation, Internet News, Internet Radio Station and more);

Edit audio files visually (Cut, Copy, Delete Selection, Delete Silence, Paste, Paste From File, Mix, Mix From File);

Apply various effects (Amplify, Compressor, Delay, Equalize, Fade In and Fade Out, Flange, Invert, Normalize, Phase, Reverb, Reverse, Silence, Shrink, Stretch, Vibrato, etc.);
Apply different filters to any selected portion of audio files;
Convert an audio file from one format to another, and much more!
Supported Formats
Home Audio Editor supports the following file formats
Waveform Audio (PCM Wave) Files (*.wav);
MPEG Audio (Various Layers) Files (*.mp3;*.mp2;*.mpeg);
Windows Media Audio Files (*.wma);
OGG Vorbis Audio Files (*.ogg);
CD Audio Tracks (*.cda);
VOX Dialogic ACPCM Files (*.vox);
RAW Audio Files (*.raw; *.pcm);
G.72x Audio Files (*.g721;*.g723;*.g726);
AU Unix Audio Files (*.au;*.snd);
AIFF Apple Audio Files (*.aif;*.aiff;*.aifc);
MPC Audio Files (*.mpc);
DSP Audio Files (*.dsp).