Hopefully somebody can suggest an application to edit my audio recordings. I've recorded some lectures using my iPod and a Belkin mic. The results is not the best by far, a constant background noise and the speaker voice is very low. Is there an application that will help me remove the background noise, increase the speaker volume, remove portions that I don't want to keep and save the results as an MP3 file. Thanks

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kermit

I would suggest either downloading Audacity (which is free).
http://audacity.sourceforge.net/

Or you might be interested in Diamond Cut Millennium ($59) or it's big brother DC6 ($159). They specialize in audio restoration.
http://www.tracertek.com/index.asp?PageAction=VIEWPROD&ProdID=4 http://www.tracertek.com/index.asp?PageAction=VIEWPROD&ProdID=2 http://www.diamondcut.com/

Hope this helps.