Wavosaur

Wavosaur is a powerful free audio editor for Windows XP, ideal for editing audio clips, sound designing, mastering, audio mangling and recording of your digital audio sounds.

Wavosaur lets you edit all your samples and audio recording. You can cut, copy, paste parts of your digital recording. Wavosaur provides many tools and shortcuts to make the editing very fast and efficient. The program was designed to give a powerful audio editor but very easy and fast to use.

Wavosaur is also a VST host, it means you can use VST effects on your audio recording, listen in real time to the audio processed by effects, and apply the effects of course.
You can make a chain of effects, this means endless possibilities with all the VST plugins effects available nowadays.

Wavosaur can record from your soundcard inputs, and lets you monitor your audio ports.
Inserting loop points and markers to your audio files is very easy.
Wavosaur is also MIDI controlable, you can use a MIDI control surface to command the main functions of Wavosaur.