new to mac, need audio help

[hauss316H]

got a new imac and want to record stuff that i play through my speakers like i could do with windows.....but how the heck do i do that with a mac? my buddy streams all his mixes to my via a private internet radio type thing and i want to know how to record it while listening versus waiting to get it in the mail. plus i can edit it better

 

[Eidorian]

This might be what you want.