I use Creatives Wave Studio which comes with their Sound cards - I have used this software for years - Wave Studio is on the Creatives driver CD. It easy to use. I think this software will run even if you dont have a Creative sound card installed.
.... I use the mp3 cut/copy and paste to make a copy of a part of a song I like and then I paste it 5 times in one sequence - so a guitar or drum solo I like will be about 6 times as long - then I give this song to my friends and it drives them crazy