I read somewhere there's a way in Windows to do this however, I was wondering if anyone knows of a simple straight forward app that will also convert to MP3... I've been planning on going by CompUSA or Fry's to look for one but figured I ask.
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Do you mean just record what is played through your speakers? If so, you can try to find Microsoft Plus Digital Media Edition. (Legally might be a little hard...)
I had it for a while then I reformatted and lost it. Now I use Audacity which outputs it as a WAV and I use MP3 Converter Simple to turn it into an MP3. There is a plug in for Audacity for it to be converted straight to an MP3 but my Windows Media Player would not play the outputted MP3.Your signature picture has been removed since it contained the Photobucket "upgrade your account" image.
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