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Audacity can be installed using the Synaptic Package Manager under the menu System -> Administration.
After installation, you may recieve the error message, "Error Initializing Audio" with the explanation, "There was an error initializing the audio i/o layer. You will not be able to play or record audio. Error: Host error."
You can start Audacity without the error with the command line. Go to Applications -> Accessories -> Terminal. Then type in
~$ sudo audacity
and Audacity will start without the error message.