The most POPULAR stream recording software (free download):

• REPLAY CAPTURE SUITE
  the best audio/video stream recording/capturing bundle
• WM RECORDER BONUS BUNDLE
  the best video recording bundle
• REPLAY MEDIA CATCHER
  the best audio/video stream download/capture software. Supports the most popular flash video format (RTMP and HTTP).
• REPLAY MUSIC
  the best streaming music recorder
• RTMPDUMP
  freeware RTMP/RTMPE downloader
• TUBEDIGGER
  flash media RTMP/RTMPE download and capture software
• GETFLV
  flash video RTMP/RTMPE downloader
• WM RECORDER
  the best Windows Media, Real Audio/Video stream capture software
• REPLAY TELECORDER
  record audio/video calls from Skype
• REPLAY VIDEO CAPTURE
  record any video from screen

Other RECOMMENDED software and services:

• REPLAY MEDIA GUIDE
  free service to find and record online radio, Internet TV, podcasts
• AVS VIDEO TOOLS
  convert, split, join, remove commercials, edit, rotate, apply effects, capture, transfer, copy, rip and burn DVD and video files
• EMUSIC
  the best legal music download service
• AUDIBLE
  download audio books, audio magazines, newspapers, radio programs
• SOUNDTAXI
  remove DRM protection from Windows Media, iTunes music and video files

Unlike Simple direct sound recording software internet radio station recorders can make individual files from each song. Plus they tag each MP3 file with the name of the song and artist.

• iRecordMusic (Shareware - $20/Mac OS X)
  iRecordMusic is a one-click audio recording software. It can record Internet audio streams as MP3, MP4-AAC (bookmarkable) or AIFF. All recordings are iPod compatible.
  It can record any sound produced by your sound card including audio content broadcast in: RealAudio / RealVideo, WindowsMedia, QuickTime media, Flash web content, MP3, M3U, EXTM3U streaming net radio, Midi web sounds.
  iRecordMusic can make multiple recordings at the same time, schedule recordings with iCal and share calendars online. It can also tag and add recordings to an iTunes playlist, making it easy to organise and find your recordings.

Hint: Looking for an easy way to convert Youtube to MP3 or download YouTube Videos? Try Freecorder.