of course, you'll have to "FILE > EXPORT..." to actually create the new file on your hard drive...
I track all my recordings in audacity. You can force it to "snap to" sector boundaries (CDDA frames), then find the mark, click ctrl-B to add a break point, type in the title if I know it, lather, rinse, repeat until done, then "FILE > EXPORT MULTIPLE..."
just sayin'