Attach the RCA cable ends to the audio output jack on your stereo receiver. Plug the other end of the cable with the 1/8-inch jack into the microphone slot on your computer. This is the same slot into which you would plug a computer microphone.
Turn your stereo receiver on to "Phono." Place a record you want to record to CD on the record player.
Download a free audio program from the Internet. You can find several by searching the Internet for free audio recording programs. Install the program and open it.
Record enable a track on the audio program. Usually this is on the track in track view. Track view is when the program displays the audio tracks with the waveforms. You will see waveforms once you start recording. When you record enable a track, you are telling the program that the track is ready to record whatever sound you have ready to record onto it.
Press "Record" on your audio program. Usually this is at the top of the screen and shows as a little circle, just like on a tape deck. You will see a flat line going across the track.
Put the record you want to record on the record player and play it. You will see waveforms on your audio track as the record plays and records to your computer. When one side is finished, flip the record and let it play through to the end.
Click "Stop" when the record is finished playing. This is a button with a square on it.
Export the file. This will save the file to your hard drive. Generally for most recording programs you will select "File," then select "Export as WAV." Take note of where you send and save the file.
Open your media burning software. You can burn CDs with iTunes, which you can obtain as a free download from the Internet. You can also use Windows Media Player. There are several CD burning programs you can download for free on the Internet.
Import the file you exported from your audio program into your CD burning software. Each program is different, but most have an import function, and with some you can simple click and drag the audio file into the audio burning software. Follow the instructions for your particular burning software program.
Burn your CD. Each burning software program usually will have a clear button marked something like, "Burn CD" in the interface. Click this button to burn your CD.