Audacity is freeware and will work for recording from an external source through your Audiophile 2496.
To get Audacity to record, and WinAmp to play, you'll need to make sure they're configured to use the Audiophile 2496. In Audacity, go to Preferences | Audio I/O, and select the appropriate Recording Device (on my machine, M-Audio Delta AP S/PDIF. Likewise, select the appropriate Playback Device, depending on how you want to play back from your PC (via the M-Audio, integrated headphone output, etc.). I'm not familiar with how to configure WinAmp to play, as I don't have it installed, and don't know how you want to listen (again, via the M-Audio, integrated headphone output, etc.).