Edit sounds using Cut, Copy and Paste (with unlimited Undo) and mix tracks together. Save files in a variety of formats viz. WAV, OGG and AIFF. MP3 support is available using the external LAME MP3 encoder.
Audacity has a built-in amplitude envelope editor, a customisable spectrogram mode and a frequency analysis window for audio analysis applications. Built-in effects include Bass Boost, Wah-wah, and Noise Removal.