How do I change the recording quality in Audacity?

Audacity's default recording bit rate is some 700 kbps, and the files are too large. How do I change the recording quality?How do I change the recording quality in Audacity?
i have audacity and you can go up to edit and and go down to preferences or you could get Sony Acid Express or Sony Music StudioHow do I change the recording quality in Audacity?
u cant because its free editionHow do I change the recording quality in Audacity?
I wouldnt use it. If you have WinXP use sound recorder, much easier more friendly.

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