[AAR.oner]

yes, you can use Audacity to edit audio files

i'm assuming yer wantin to trim down a song to a shorter clip...to do this:
--open the wav file
--click&drag to highlight the portion of the song you want to use [Five will want a clip from the middle of the song that has all the instruments playing, ~20secs should be fine]
--OpenApple+C [copy]
--OpenApple+N [new file]
--OpenApple+V [paste]
--go to File > "Export as .WAV"

fwiw, you can zoom in using OpenApple+1...zoom out is OpenApple+3