Audacity 3.2.0

Audacity

Audacity is a free, open source digital audio editor and recording application. Edit your sounds using cut, copy, and paste features (with unlimited undo functionality), mix tracks, or apply effects to your recordings. The program also has a built-in amplitude-envelope editor, a customizable spectrogram mode, and a frequency-analysis window for audio-analysis applications. Built-in effects include bass boost, wah wah, and noise removal, and the program also supports VST plug-in effects.

You can use Audacity to:

Record live audio.
Record computer playback on any Windows Vista or later machine.
Convert tapes and records into digital recordings or CDs.
Edit WAV, AIFF, FLAC, MP2, MP3 or Ogg Vorbis sound files.
AC3, M4A/M4R (AAC), WMA and other formats supported using optional libraries.
Cut, copy, splice or mix sounds together.
Numerous effects including change the speed or pitch of a recording.
Write your own plug-in effects with Nyquist.
And more! See the complete list of features.

Audacity 3.2.0 prominent changes:

Added a new Effects button to the tracks menu, allowing you to place realtime effects.
Further information can be found can be found here
Merged the mixer bar with the meter bars.
Added a new Audio Setup button, replacing the Device Toolbar by default. The device toolbar can be re-added via the View > Toolbars menu.
The Effects menu has gotten a new sorting. Other sorting and grouping options can be found in the Effects preferences.
Updated the icons.
Added a quick audio sharing feature.
More info can be found here

Plugin changes

You can find plugins here
VST3 effects are now supported.
The following plugin formats are now realtime capable: VST3, LV2, LADSPA, Audio Units.
Plugins now automatically get scanned, tested and enabled when Audacity starts.

System changes

Apple Silicon (arm64) is now supported on macOS
Note: When using an arm64 Audacity, you must use arm64 versions of FFMPEG and plugins. Plugins for x86-64 (Intel macs) will not load.
For the time being, Audacity will continue to download x86-64 versions by default to avoid these incompatibilities,
but you can download an arm64 version from Github releases: https://github.com/audacity/audacity/releases
FFMPEG 5.0 (avformat 59) is now supported, in addition to avformat 55, 57 and 58
Added support for Wavpack
On Linux, Audacity can now be compiled without JACK present.
Audacity now uses XDG directories on Linux.
Note: If you are upgrading from a previous version, Audacity will keep using the ~/.audacity-data and ~/.audacity folders until you delete them.
Switched from mad to mpg123 as MP3 importer [full release notes]