You can use sound recorder to record wav files, which can then be converted to mp3.
Sound recorder normally limits recordings to 60 seconds.
First check the quality in File--> Properies is at CD level 44.1khz, 16bit, stereo. If you have the codecs installed you may be able to record directly to your preferred mp3 bitrate.
To extend the 60 second limit, make a recording of say 10 seconds or so of anything, preferably silence, then copy and paste to make it as long as needed. Take the slider back to the beginning and make your proper recording.
Edit the recording using the slider, left & right cursor keys (moves 0.1 sec) and CTRL left & right (moves 0.01sec) and the edit options. You'll need an mp3 tag editor as well.