Audio Recorder Deluxe is a lot more flexible and powerful than the standard Windows Sound Recorder.

It can record in a variety of different file formats including WAV, MP3, WMA and OGG. It can record from any source, including the output from Windows itself, so you can record streaming audio from the internet.

A schedule option can be used to start and finish recording at set times.

Also included is a program called Super MP3 Editor Lite. This can be used to crop sound files to the correct start and end points as well as add fade in and fade out to music tracks.