Recording Real Audio with direct sound recording software

Direct sound recording software can record any sound produced by your sound card. Most of such programs can record to MP3 and WAV.

This is not really a good option, 'coz it won't allow you to record several streams simultaneously. Besides the quality of such recording depends on your internet connection, sound card quality, software settings.

Yet again you may burn WAV files to Audio CD using your favorite CD burning software.