For more options, like changing your ripped music's format to MP3 or changing the folder where you save your music, you can do a normal rip.
Start by launching Windows Media Player yourself via the "Programs" option by clicking on either the "Start Menu" tab in Windows XP or the Windows logo in Vista or Windows 7 (both at the lower left of your screen). Insert your music CD. (To simplify things, just cancel and close down the "Autoplay" menu in case it shows up.)
Once you're in the Rip menu, click on the Rip tab to bring up a list of options. "Format" lets you pick between Windows Media Audio formats, WAV, and the more popular MP3 format. The WMA and WAV both have "lossless" format options, which means the music will be ripped with no loss in quality. The MP3 format, meanwhile, offers wider compatibility with portable music players and smaller file sizes but sacrifices a certain amount of quality depending on the bit rate of your file. This brings us to the "Bit Rate" button, which basically lets you pick the quality of the rip. The default for bit rate is 128 Kbps. Note that the higher the bit rate you pick, the better the quality you'll get, but you'll also get a larger file size.