I came across this interesting software called "FlexiMusic Editor". FlexiMusic Wave Editor is an easy-to-use audio editor for professionals and home users (for Windows). It provides a powerful and user-friendly editing environment for novice users. You can edit and record music, apply effects and filters, adjust stereo channels, save audio to all of the popular formats and burn songs to CD. It includes many features for audio editing and converting.
Do check it out !!