Mrs. Wolfe here. If you just want to record the streaming audio, I use Audacity.
http://audacity.sourceforge.net/Be aware that anything you are doing on the computer at the same time that clicks, beeps, etc will be captured as well so you may want to avoid using those programs (IM programs especially) while recording. Once you have recorded it, you can then "export as MP3" or "export as WAV" to save the file. Audacity will also let you edit out any pieces you don't want, like if the source pauses to buffer, you can just cut that pause out.