REAPER | Audio Production Without Limits

"REAPER is digital audio workstation software: a complete multitrack audio and MIDI recording, editing, processing, mixing, and mastering environment. Record audio and MIDI from multiple inputs simultaneously Layer recorded tracks and takes over previous recordings Edit recordings in almost any imaginable way Hundreds of audio and MIDI processing effects included, or choose from thousands of third-party effects All editing and effects are completely non-destructive REAPER works with almost any hardware and can be used in combination with a vast universe of other software and plug-ins. Take advantage of REAPER's full functionality using only your current computer and a microphone, or use REAPER to drive an entire professional recording studio"

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REAPER | Audio Production Without Limits
http://www.cockos.com/reaper/