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Comparable: Audacity, GarageBand, Pro Tools, Audition
REAPER (Rapid Environment for Audio Production, Engineering, and Recording) is a digital audio workstation created by Cockos. It is distributed with an uncrippled evaluation license with a nag screen explaining the license cost. It is currently available for Microsoft Windows (XP/Vista/7/8) and Mac OS X (10.4-10.10). Reaper features multi-track recording, a non-destructive editing environment, real-time effects, and VST (Virtual Studio Technology) plugin ability for the addition of effects, samples, virtual instruments, visualizations, and more. Reaper has many of the features and basic abilities of far more expensive DAW’s (Digital Audio Workstation) at a fraction of the cost.
Here is a detailed comparison matrix of several DAW software pieces.