Depending on the severity of the distortion, you may well be able to improve the situation considerably. "Cool Edit Pro" (a long-orphaned product) later became Adobe Audition, and Audition has a "Clip restoration" feature in its Effects menu, under "Restoration."
But this feature may not have been in the product when it was still "Cool Edit Pro," in which case you might need to rely on someone who has Audition or other up-to-date software to help you with your file.
Also, the more severe the clipping (I do wish that people would stop inventing new terms for old, well-known phenomena), the less likely any software is to achieve a really natural-sounding result. But the annoyance factor can usually be reduced--sometimes even to the point where most people wouldn't notice (or at least wouldn't readily identify) the problem. So don't give up.
--best regards