In the old days, kids taped music from the radio with a boombox and a cassette tape. Now the computer is a recording device, with the ability to archive Internet radio and other audio streams. Alive WMA MP3 Recorder does this a bit better than the recorder function in Windows does, allowing an audio stream to be saved in compressed MP3 or WMA files, among other formats.
It also allows recordings to be scheduled, which can be helpful for capturing an Internet radio broadcast you might not be near the computer to hear. However, it lacks features many other recording programs have, such as voice activation, or audio-stream-splitting features that are useful for digitizing LPs and cassettes.
The trial version is limited to recording one minute of audio. Overall, the program does provide decent and basic recording functionality, but other programs have more advanced sets of features.