Audacity

Audacity is the ultimate free audio editor. It costs you nothing, just head over to http://audacity.sourceforge.net/ and download it. It works on Windows, Mac, Linux, etc as well. The program is perfect for podcasting. It records, edits, applies effects and more. Recording and editing a podcast in audacity is amazingly simple. Plug in your mic, and click record. When your down hit stop and begin editing. You can learn how to work the easy to use editing tools just by reading a couple pages out of the manual. Then export to MP3 (requires installing LAME) and your done. Amazing for a free audio editor, isn’t it?