The Studer Revox B77 tape recorder
The most basic tool for editing is of course the reel-to-reel tape recorder. What about this Revox B77 with integrated tape cutter? Of course, with the comfort of digital editing software nowadays, it is not the easiest way to go. Reel-to-reel tapes are expensive and hard to get. And you sure don’t buy splicing tape at your local CD store. But watching those wheels turn and the VU needles move to the beat of the music, sure adds up a lot of experience to listening to the music.
Check out these vids: How to edit tape? and JTHZ edit madness
Acid Pro by Sony
ACID Pro 7 software is a DAW powerhouse that combines full multitrack recording and mixing, MIDI sequencing, and legendary ACID looping functionality for a seamless music-creation and post-production environment. More creative partner than production tool, ACID Pro 7 software inspires you like nothing else. With its Transparent Technology™ design, ACID Pro 7 software removes typical barriers to the creative workflow so you can effortlessly transform ideas into real results.
Ableton Live
Ableton Live is about making music; for composition, songwriting, recording, production, remixing and live performance. Live’s nonlinear, intuitive flow, alongside powerful real-time editing and flexible performance options, make it a unique studio tool and a favorite with live performers. If you’d rather be “making music” than just “using music software,” Ableton Live is for you. Live 8, the latest version, includes a wealth of new techniques and improvements with a new groove engine, revamped warping, live looping, new effects, crossfades in the Arrangement View and a reworked MIDI editor.

Hz37 Edit
HZ37 Edit, created by Hens Zimmerman, is software that divides a 4 beat wav file into 16 equal slices and makes it possible to copy and rearrange the slices into a new order. It also gives you the opportunity to give each slice different sound effects, like reverse, staccato (cut the slice into 2 parts and mute the second part), mute, repeat within the slice, pingpong (mute the left or the right channel) and even more. Get it here.