Although many programs are now able to rip your CDs to multiple formats, few are as powerful as Kat CD Ripper.
Kat CD Ripper allows you to rip a whole CD, selected tracks or even parts of selected tracks while supporting CDDB at the same time, meaning you don't have any time consuming relabeling to do when you are done. As is standard with such programs, you have full control over sampling rates and other parameters regarding the quality of the Mp3 or WAV files that you rip. It also features a useful volume normalisation function which allows you to make sure that if you're mixing different tracks off of different CDs, the finished product does not sound all over the place. Probably the most unique feature however is the ability to select a section of the CD in a window display which allows you to select the "range" of the track - basically the start and the end position. You can also record sounds directly into the program from a microphone. The downside however is that the program has been designed with Windows XP in mind which means that Vista users may experience certain glitches in recording and problems in ripping.
Overall, a very powerful ripping tool that gives you maximum control over exactly what you need to record.