Install Freecorder Toolbar or other free audio stream recording software such as MP3 My MP3 and PC Win Speaker Record.
Adjust the settings. Click on the settings button on the Freecorder Toolbar and make sure that the "Record From Freecorder Audio Driver" box is checked. De-select the remaining boxes. Choose to record your stream as .MP3 or .WAV and select where you want your recording to be saved. When using other programs you may have to change the recording source from "Microphone" to "Stereo Mix."
Play the stream that you want to record.
Press the red "Record" Button in the Freecorder Toolbar to begin recording the stream that is playing. Choose to mute the sound or turn your speakers off if you like. When using other programs you may need to leave your speakers on and have the volume un-muted.
Click "Stop" to end the recording once the stream has finished.
Click "Play" to listen to your recordings.