GarageBand

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GarageBand is like your own recording studio. With GarageBand you can learn to play an instrument, write music, record a song or create a podcast! GarageBand is one of the iLife applications, and is designed to interface seamlessly with iMovie, iPhoto and iDVD.// media type="custom" key="4707147"

Podcasting in Plain English
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GarageBand and Podcasting Resources for Further Exploration
What is a Podcast? Podcasting Podcasting 101 Wiki