When you have captured all the audio pieces, edit them to achieve the results you want. The editing process involves such aspects as mixing sounds together and eliminating distortion.
Various software packages for music creation, sound effects, and digital mixing exist. These packages let you edit the audio—either as entities or as an integrated soundtrack—and then output the finished product as files on disk.
WaveEdit provides some of the following editing capabilities: setting volume, fading-in and fading-out during transitions, and mixing several channels. WaveEdit can get you started, but it isn't intended to serve as a full-featured audio editing tool. Other sound recording applications contain a fuller set of audio editing capabilities.