Magic Audio Editor was an application that allowed users to modify their audio files while working on the audio waveform. It supported file conversion as well. For example you could convert audio files between them with exclusive support for MP3, WMA, WAV, Ogg Vorbis, VOX, Audio CD Tracks(CDA). It captured audio from microphone or streaming audio from the Internet.
Unfortunately, the software isn't available anymore because the official website has been discontinued. I suggest using alternatives like Audacity or Adobe Audition CC.