use Audacity as it's free and doesn't take a lot of memory. the high end would be something like sony's soundforge.

http://www.audacity.sourceforge.net

for recording i'd recommend cooledit pro 2

it's woonderful

http://www.toggle.com/24026/Cool_Edit_Pro_2.1.htm

Cool I'll give them a try. Looks like I can get a 20 day free trial of the cool edit pro.

Thanks for the recommendations