I run a blog, and wanted to find something that worked like youtube, but for audio. I didn't want to mess with the audio uploading settings on my blog, I just wanted it to work easily. This is the easiest way I've found so far.
Step 1: Get your audio file
You'll either need
1) An existing audio file on your computer (mp3s work good)
2) A video online, you can link urls to grab the audio from
3) A microphone to record with