How do I record audio playing on the Internet using Audacity?

I want to record sound from the internet using Audacity. I do not want to use the computer's microphone and record it from the speakers because the quality is lousy. Is there any way to record it straight from the computer?How do I record audio playing on the Internet using Audacity?
Go to control panel and click on sound options. Than go to the Audio tab and click the volume button under "Sound recording". Select "Stereo Mix and set the volume a little below the second bar. Make a new Audicity file and start recording. It will now be recording EVERYTHING thats coming out of the speakers.



=DHow do I record audio playing on the Internet using Audacity?
press the red recoard button in the upper left corder then press stop to stop then press play to play , i have it on my laptop it is a nice program. p.s. do not click any thing on i.e.

or it will record the the page make noise. (So what you need to do is pull up your page on IE then press record on audacity then quickly switch back to IE then press record then press stop on AC when you are done