Honestly, switching to Garage Band from Audacity for my podcast was a game-changer in the editing. I can do it so much faster with the tools that are available in editing--especially when you are dealing with more than one track to edit. I also think Garage Band could be fantastic for recording a whole album initially before sending it to be mastered elsewhere. And I think Garage Band could be perfect for sync music licensing because it's still relatively easy to use!
Highly recommended for voice over recording and editing. Great for splicing together several different recorded files to create a final track. Our voice over talent typically sends us their unedited recordings with multiple recordings of the script. Then we can listen to the different versions to select the best fit for our client. We just select the sections we like and copy them into a new file, then continue to add the sections until we have the final voice over. It is easy to tighten up or stretch out the recording to better fit our timeline.
We have not used WavePad for recording live music so not sure how well it is suited for that. If you need multi-track editing you will need another product. MixPad makes a nice companion.
WavePad only works with a single audio track. NCH does offer MixPad for multi-track editing. We also use MixPad occasionally to mix background music with voice.
GarageBand has just a few clunky settings--otherwise, it is a very user-friendly program with lots of functionality. Beginners can get started pretty quickly with the program, while more advanced users can dig around and find plenty of other tools to use to tweak things within a recording or editing session
Easily handles basic audio recording and editing. Advanced editing features are there but if you don't already understand audio editing you will need to watch some of the provided videos to learn how to use the tools.
Because GarageBand is included on macOS and iOS purchases, and we already use an Apple environment at our office, it was an easy decision to go with the 'free,' included program for our basic audio editing needs. We did also purchase Logic Pro X, since it is the 'big brother' to GarageBand, but our volunteers tend to use GarageBand first because of familiarity and ease-of-use
We ran across WavePad years ago and used it for some simple music file edits. Cutting out some parts to make it fit better into the time slot. Audacity was recommended by a friend and we installed it and give it a brief try. We didn't find anything bad about it but came back to WavePad.
We are able to work with local voice-over talent and amateurs and that allows us to keep our cost low to our clients.
WavePad is so inexpensive that is pays for itself on the first project. The Master's edition is less than $100 and the standard edition is less than $50.