Cubase and Cakewalk are the best but they are for pros and take a LOT of learning. I found Cakewalk a bit easier, but I haven't learnt most of it yet...
For the task you want, the tiny Akoff Compeser is excellent. You change instruments, their volume and stereo position in a second without having to know anything. It can also record wave and change it to Midi.
Get it here:
hxxp://rhythm.harmony-central.com/~ftp/software/windows/midi/composer.zip
and here is a keygen
:
Sorry! Keygens are not allowed under the New Rules.