Free: Audio Editor and Recorder

I stumbled upon this the other day when I was looking for a free audio editor that wouldn't cost me an arm and a leg and require a licensing update every other year. So I found the program Audacity and if you like Cool Edit Pro then this is a great free substitute. Here are the features as reported on the website (Best part, unlimited Undo and Redo):
Editing

• Easy editing with Cut, Copy, Paste, and Delete.
• Use unlimited Undo (and Redo) to go back any number of steps.
• Very fast editing of large files.
• Edit and mix an unlimited number of tracks.
• Use the Drawing tool to alter individual sample points.
• Fade the volume up or down smoothly with the Envelope tool.

Effects

• Change the pitch without altering the tempo, or vice-versa.
• Remove static, hiss, hum, or other constant background noises.
• Alter frequencies with Equalization, FFT Filter, and Bass Boost effects.
• Adjust volumes with Compressor, Amplify, and Normalize effects.
• Other built-in effects include:
  • Echo
  • Phaser
  • Wahwah
  • Reverse

All in 16-bit, 24-bit, or 32-bit sampling with recording up to 96 kHz. After a couple uses, you start to get the hang of it. It has the same GUI as many other programs out there and is easy to understand and get into the groove of things, sorry I had to say it sometime.
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