Furthermore, it's multitrack and multiformat, that means you can work with different tracks and formats at the same time and save the output file as any audio format.
If you have a mixer or a microphone you can use them as audio inputs for your audio creations. It can capture up to 16 different channels at once.
Audacity X supports WAV, AIFF, AU and OGG Vorbis. If you want to work with mp3 files you'll need to install LAME encoder.
Cut, copy, paste, add echoes, fade, inversion,... do whatever you want and create your own audio masterpiece.
If you think these features are not enough for you, install some plugins and power it up.