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To record your voice using Audacity, click on the icon on the desktop (pictured at left) or choose Audacity from the Start menu (Start > Programs > Audacity. The interface for Audacity is based on the buttons found on most audio players, and thus should be quite intuitive for most users.
Before beginning to record, check that the source select is set to Microphone and that the record volume (represented by the microphone) is at least half-way up the scale.

When you are ready to record, click on the record button (the red circle near the top of the Audacity window). Your sound will appear in the window as you record. The wave form representing your voice should approximate the size of the wave in the picture above. If your wave pattern is quite small, you will either need to speak in a louder voice while recording or move the recording volume toward the + end of the scale. If your wave pattern touches the edges of the recording window, you will need to speak less loudly when recording or move the recording volume toward the - end of the scale.
If you would like to pause in the course of making a recording, press the PAUSE button. Press the PAUSE button again to resume the recording.
When you have finished recording, press the STOP button.

Once you have created a sound file, Audacity will allow you to edit the file using the same options you are accustomed to from Word Processing programs.
To premanently delete a selection from your audio file, click and drag to select the portion you want to delete and then hit the DELETE key.
To cut a selection from your audio file (in anticipation of pasting it somewhere else), click and drag to select the portion you want to cut and then choose CUT from the Edit menu. You can also choose the copy the selection if you do not wish to remove it from its original location.
To paste a selection into a file, place the cursor where you want to insert the portion and then choose PASTE from the Edit menu.
The easiest way to make a recording is to create one long track using the pause button and correcting mistakes as you go along. Once you finish the recording, you can go back and delete out your mistakes, leaving a perfect file. Please note that you can neither listen to nor edit a file while the record button is pushed.
If, however, you choose to hit the STOP button rather than the PAUSE button, keep in mind that it is NOT possible to continue your recording in the same track window. Hitting the RECORD button a second time will actually open up a second recording track that runs parallel to your original track (see the image below).

If you hit the PLAY button in such cases, both tracks will play simultaneously. If you wish to listen to an individual track, you can do so by clicking the Solo button corresponding to the track. You will then be able to cut and paste from one track window to another. Make sure that you only have one track when you are finished recording. To close a track, click the X at the upper left-hand corner of the track window.

In order to keep file size to a minimum, you will need to create an mp3 version of your recording. Do this by selecting "Export as MP3" from the File menu.
Once you have named your file and selected a place to save it, you will be shown a window in which you can enter ID3 tags (the information that shows up in the iPod menu). Although you may enter information in this window, you may just leave it blank and click the OK button.
Once the file has been exported, you should check to make sure that it works properly before closing Audacity. If you have done everything properly, the file should play in Windows MediaPlayer (on Windows) or QuickTime (on a Mac).
If, however, your file looks like the ones to the right and you get an error message with the header "Audacity is already running," you have actually created an Audacity file, rather than an mp3 file. Just go back to Audacity and repeat the exporting process.