Exact Audio Copy
Exact Audio Copy provides you with almost everything you need to grab and rip audio CDs and convert them into WAV or MP3 formats. One of the main strongpoints for the EAC is that it comes equipped with new technology, taking audio grabbing to a whole new level. You'll hardly encounter any errors when reading or grabbing audio CDs since the program easily works with practically any file type. You can even pop in damaged or scratched CDs and there's a good chance that EAC will read and grab it quite perfectly.
The program was created by Andre Wiethoff, former student of Germany's University of Dortmund. He developed the program because he was simply "fed up" with other audio grabbers that were available in the market. EAC is offered as a free download so give it a go.