http://www.adobe.com/products//audition/main.html
This is awesome, yet expensive software, so for a cheap, yet not as good alternative, I would recommend using DDClip
http://www.softlab-nsk.com/ddclipro/free.html
This song was recorded by me using a 10 watt practice amp plugged into a Soundblaster 16 using DDClip Free Version as the recording software.
http://www.geocities.com/thejuju2000/somesong.mp3
Miracle Blade 4: Gibs on touch.