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I have "audacity". It's a free GPL-software. You can just download and use it. Exists for Windows, Mac and for Linux computers.
I use it - for cropping songs in mp3, wav and ogg format. - for equalizing - for removing random noise - for changing audio output level
um yes i use a video converter and set it to mp3 and i cut down the songs into ringtones and mix them up for remixes of songs
some video converters cost money