SoundForge is a good editing package, mine is 5 years old and I find it far richer in function than I need, and I am a whistle and bells man. Save using MS recorder as WAV in sections and cut to taste. Stitching is easy if there is enough overlap in your clips.
In the UK if you have the permission of one person on the recording and the material is out of copyright/in public domain then you are in the clear, legally. The moral argument says "ask first". There may be a lot of people to ask!