How do I record audio on OSX?

[Foggy MacUser]

I know that on OS 9, there was an easy way to do this.

I just want to transfer some music from LPs and
cassettes to CD.  On the old machine, I fed audio from
my stereo into the sound card, used "sound recorder"
to create a stereo AIFF file at 44.1ksps, then used
Toast to burn to a CD.

That Mac is gone, now I have a 733MHz G4 Quicksilver,
running OSX Panther (updated to 10.3.3).  For the life
of me, I can't find out how I'm supposed to take in
the audio from the sound card, and create that stereo
AIFF file.

Doing this over on the Windows XP machine is a piece
of cake with apps that came with the OS.  But I refuse
to believe that OSX is, in any multimedia sense,
inferior to Windows XP!!!!!

Have used Apple OS Help...can't find what app to use. 
Is something buried in iTunes that I haven't found
yet?

Thanks!

...drifting in a fog, as usual...

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