EasyRecorder

From Microluck Software:

Easy Recorder is a small but efficient Windows sound recorder software that can record any sound generated, or requested, by any other computer program such as Windows Media Player, Quick Time, WinAmp, etc. Additionally, it also will record any sounds that come from the Internet through your sound card, either as audio files or live streams. Your favorite recorded sounds are saved in the space-saving and popular mp3 format. EasyRecorder also will allow you the option to record any online audio conversations, such as those on Internet Telephony. Whether you want to record business conversations to later be transposed to handy notes for future reference, you can count on EasyRecorder to provide you with the advantage of recording the audio for safekeeping.