Exact Audio Copy!
Probably the best cd ripping program you can get. This is a"front end" or a "user interface" and can use many different encoders to compress the wave files that are taken off of a cd. Download it here and open the zip file to find some of the settings to go along with it. Once I have more time, I'll expand on the settings but if you do a search, you'll find several good guides for using EAC. Download Exact Audio Copy. The download is in the 7-Zip format which is much smaller than the Zip format. Check out the Downloads and Tips or Fast List Pages for the 7zip download.