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You could alternately record the file in windows sound recorder and convert the wav file to your desired format, assuming you don't want to install any other tools.
There are tons of free audio converters out there. I usually just go to download.com and search for specific tools in the freeware section.
I agree that you don't want to use WAV format as the file size will be absolutely huge (20-40 Megs for a single 1-2 minutes). I recommend MP3 or WMV format which is universally accepted as standard audio.
If you wanted to go high end for your audio recording i suggest Sony Acid as a professional sound studio with more options than you could ever use.
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