Audacity is a software to edit audio files and record audio from microphone or computer's soundcard.
The program comes with an advanced, but intuitive interface. With drag&drop you can select a part of an audio file, then apply editing actions such as cut, copy, delete, split, change volume, apply different effects and much more.
You can make a quick drag&drop select, but also you can enter the exact start and end time to make a selection within an audio file.
It includes many effects to change bass, treble, adjust the volume (normalize, fade in/out, amplify ..) and many others. You can listen a preview before applying desired changes.
Audacity is available as free download for Windows 32-bit and 64-bit.