I use that one for some stuff. It works well, but it lacks certain very useful features like resampling sounds to a different bit depth or data rate (eg. 44kHz 16bit sound file downsampled to 22kHz 8bit.) Another free audio tool which can resample sounds is Encounter2000. I often use Audacity for the main editing work and then use Encounter2000 as a final step to optimize the sounds (not unlike using some other file format while working on an image and saving it out as jpeg as the last step before posting online.)
Free Audio app.
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