How Does One Produce MP3s With Original Game Sound Files?

Alright, many here are aware of program that allow PCs and Macs to play original sound files ripped from games (which you can find at places like Zophar. But what if you want to convert them into mp3s?

Also, I have a Mac.... is there anything I can use to simply record whatever sound is playing? There's got to be a way....
 
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