Record any audio playing on your computer as mp3 or wav file with mp3mymp3 recorder. It can record any sound originating from your computer, it works by recording all audio through your sound card.

Record internet radio and save to mp3 or wav. Record streaming audio from the Internet, microphone, or any other source for that matter. MP3myMP3 Recorder works directly with your system sound card - if you can hear it, you can record it! Use the scan tool to list all mp3, wav, aif, swa, or sun au audio files on your computer - then play and record portions of any of these files.

Select the audio source you wish to record from and select stereo mix or wave mix and play the audio file in your favorite media player. Click the record button, when you want to end the recording stop it and save the file as mp3 or wav format.

Mp3 My Mp3 Recorder is a freeware, download the application from here