Top Quality Audio Editor
Audacity is a free audio editor and multi track recorder, with the capabillty to record, edit and save sound in 16-bit, 24-bit and 32-bit up to 96 kHz.
Audacity can import and export WAV, MP3, AIFF, AU, and Ogg Vorbis files.
It features several internal effects:
compressor, amplifier, normalizer, noise removal, dithering, equalizer, pitch shifting, filter, reverse, and many more.
On top of this Audacity can host VST plug-ins and has a build in FFT spectrum analyzer.
Highly recommended!
Audio Production Powerhouse!
Wavosaur is a free professional audio editor and multichannel sound recorder supporting audio output up to 192 KHz, 24 bits.
It loads wav, mp3, aif, aiff, ogg vorbis, raw binary, au/snd,Akai S1000 sample, and others, and can save wav files up to 64 bit floating point as well as mp3.
Wavosaur supports ASIO and VST plugins with preset load & save functionality.
It has among others the following effects:
pitch shift, vocal removal, auto-trim, DC offset removing, 3D spectrum analysis, oscilloscope, and RMS analysis.
Wavosaur can import, save and edit loop points & markers in wav files, do snap to zero-crossing, export multiple wav file from markers, perform auto slicing, and do batch processing (apply process/effect/VST effect to an entire folder).