You can even do it with Winamp (5.00 +), but only to mp4 (you can rip to mp3 only with Winamp Pro, which is commercial). Then you must convert these mp4s to mp3s.
I recommend using Google. Personally I use FreeRIP 2 for ripping CDs.
@qwerty: yeah, its pretty like it. 128 kbit, 256 kbit, the lesser value is the less size the file takes, and the lesser quality it has.
If memory serves me well, Warcraft can support only mp3 and wav.