If you are only recording voice for notes adn maybe dictation, a basic digital recorder will suffice. But if you want to create podcasts, or record songwriting ideas, you might want to consider something with a wider frequency range and a higher bitrate. Some of the more expensive models can reduce background noise, and will automatically save in a common format like MP3 or WMA. If you are someone that does medical transcription, there are certain models that use compression formats that allow the file you recorded to be even smaller. This is good if you have to email files back and forth between a doctor and transcriber.

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