Use Windows Media Player

You can set the player to Rip the tracks and where you want to put them

Its in "Tools" ---> "Options"

Then click the "Rip Music" tab. You can change the destination folder by clicking the "Change" button. And change it to Mp3 or WMA files.

Then when you put the CD in and play it trough WMP, you click the "Rip" tab at the top and it does it all for you.

HTH

As for Burning I use "Nero"