CD tracks use a Digital Audio Format which requires a "ripper" to extract. I've had very little luck ripping and encoding with Musicmatch, Windows Media Player. There are too many versions of these and too many flavors (free, pro --some rip slowly, some can't encode mp3, only wma etc). The best and easiest ripper I've found is Audiograbber which is fast and now freeware! Can download from:
https://www.audiograbber.com-us.net/ This will give you wav files which can be burned back to disk using Nero, Roxio Easy CD, Musicmatch, Media player. Have found Roxio (was adaptec, now bought out by Sonic Solutions) the best for burning CD's - no distortion, clicks or inter-track pauses (always use disk at once burning, not track at once). For encoding mp3, LAME is considered to be the best and is freeware.
Agree with Merritt that Winamp is the easiest way to convert mp3 to wav. I use an older version of Winamp v2.81 (it's faster and it doesn't keep calling home searching for updates and track names). The newer ones probably work the same way. If not then you can download old versions of winamp at:
www.oldversion.com To output to wav:
1--start winamp
2--click on the sine wave symbol in the upper left corner to open menu
3--choose options then preferences
4--default is waveOut plugin, change this by clicking on Nullsoft Diskwriter
5--click on configure to choose where the wav file will be written
6--close menu
7--drag and drop your mp3 file(s) to playlist
8--click on play
Winamp should write the wave files. Since there is no audio playback at this time, the process will happen 5 to 15 times faster than real time.
Don't forget to set the Winamp's output plugin back to waveOut!
Good Luck! David