The cheapest way would be with Audacity.
The easiest way; First, figure out what the frequency is and then see
this thread about removing select frequencies and note the photo of the third reply with the spike.
A more complicated way; Noise reduction. If you could find a portion of the tape which is just the buzz, then you could probably make a good stab at use a noise remover, but if you are looking at fixing an audience tape I'd either select a different tool than Audacity or tinker with the EQ to try and isolate that buzz frequency band before I took a sample for the noise reducer to learn (and then apply the reducer on the main original 2 tracks).
If the noise is neatly contained in a consistant band and you can get a very tight focus on that band (e.g. it's less than say 10hz across) then the EQ notch filter idea is a real posibility, otherwise I'd look toward a noise reducer (and spending a lot of time learning how to use it effectively; it's a grenade, you
can do a lot of damage easily).