About this tool
WAV stores sound uncompressed, which is why one minute of CD-quality stereo audio weighs about 10 MB. The same minute as an MP3 at 192 kbps weighs about 1.4 MB.
If you're going to keep editing the audio, keep the original WAV and use the MP3 only for sharing or publishing, because MP3 discards some of the information when it compresses.