You can use this
http://audacity.sourceforge.net/ to record.
And to do it, double click on your speaker icon, click Options, Properties, check the Recording radio box, and depending on your drivers there should be a "What You Hear" type option, make sure that's checked. Then it should display all the recording devices, and make sure the "What you hear" one is checked, and then when you record in Audacity it should record whatever is coming out your speakers.
Not going to be great of course since you're compressing an already compressed then expanded audio stream.
Depending on the source of the audio there might be a way to rip the audio stream directly, but I'm not knowledgeable of such thing.