In case someone does not know: an Audio CD is a digital medium and thus need and should not be "digitized" as tapes would. To convert it into a computer file, all you need is a computer with a CD/DVD(-ROM) drive. Push your CD inside and right click on the symbol. If you need more advice, ask us.

Conversion into WAV files is absolutely lossless. Other formats trade quality for storage.

Since CDs tend to deteriorate, your WAV may be even better than your CD will be in ten years.