I've touted Total Recorder in threads related to recording streaming sound, but I have to say I use it for ALL my PC recording chores nowadays. It doesn't so a whole lot - it'll record sound from whatever source you tell it to, it'll normalize the file and it'll convert the recorded .wav file to MP3. But its beauty is its simplicity. Gargoyle said above that you need an editing program and I agree. But, as far as I'm concerned, wading through all kinds of bells and whistles to get the file on the computer to be edited is just too much trouble. TR can be found here:

Total Recorder

Probably its biggest fault is that the trial version only allows recording of a 30 or 40 second sound file. I wish they'd made it a time-limited demo with full features instead. But the registration cost is, I think, $11.95 US, so it's not a great expenditure.