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FREE AUDIO PLAYERS AND TOOLS
The most widely used streaming audio/video software today is RealPlayer from RealNetworks. Its main competitor is Microsoft's Windows Media Player. A recent noteworthy addition is jetAudio. All these players are free. Because streaming media technology is improving so rapidly you should ensure that the version of the software you are using is the most recent.

JetAudio is integrated multimedia software made of a single compact rack. Not only does it play various music and video files, it also has features such as CD burning, recording, and conversion to other file formats. You get the ability to create your own Internet broadcast by using JetCast, provided with JetAudio. Play all major file formats, including WAV, MP3, MP3Pro, OGG, WMA, MPEG, AVI, WMV, MIDI, RM, and video and audio CD tracks. Convert among audio file formats, and record analog audio to various formats. The program features visualization plug-ins, including Sound2Vision; tag editing for MP3, OGG, and WMA files; sound effects including wide, reverb, and x-bass; multichannel sound output; speed control of audio playback; crossfading for smooth transition between two songs; a skinnable user interface; and synchronized lyrics display (karaoke) for MIDI and MP3 files.
System Requirements:
Pentium 200 MHz or faster CPU, 64MB of RAM (128MB or more Recommended), 40 MB of free hard disk space, Windows 
98/Me/2000/XP, Soundcard, speakers or headphones, Microphone (Optional), Internet Connection (Optional) Highly recommended: DirectX 8 or higher, QuickTime 4 or higher (needed to play QuickTime files)
Flash
Flash Player and plug-in
Freeware.
Windows Media Player
Windows Media Player
Freeware

Apple QuickTime
Freeware for basic version

WinAmp
Freeware versions available

RealOne Player
Freeware