Audacity is a free, easy-to-use, multi-track audio editor and recorder for Windows, Mac OS X, GNU/Linux and other operating systems. The interface is translated into many languages. The version currently hosted here is 2.1.0 (March 2015).
More recent versions than this are available from. Audacity is free software, developed by a group of volunteers and distributed under the GNU General Public License (GPL). Programs like Audacity are also called open source software, because their source code is available for anyone to study or use. There are thousands of other free and open source programs, including the Firefox web browser, the LibreOffice or Apache OpenOffice office suites and entire Linux-based operating systems such as Ubuntu. This is excellent software.
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It's great for removing noise and clicks from old audio files. It's awesome for mixing multiple tracks down to a stereo file. I use it for speeding up spoken word tracks without increasing the pitch. Cutting and cross fading is easy. The equalization is very good. I can't be used on-the-fly but I quickly got used to the preview mode which can be set to any part of the track.