In my opinion, the task is even more complicated than Ray states.
The necessary processes are:
(a) copy the output of the record to *.wav format
(b) clean up the wave form (so as to "top and tail" the individual tracks with a silent run-in and to clean up the audio, removing pops, clicks and crackle)
(c) ensure maximum signal with tracks in correct proportion to each other (normalisation)
(d) get the edit points in the correct places (as mentioned by Ray)
(e) burn the files to CD-DA.
There are plenty of (even free) programs that will do some or all of this.
Audacity http://audacity.sourceforge.net/download/ is free and will do (a), (b) and (c).
It won't, in my opinion, do it as well and as controllably as (say) Adobe Audition, but it will do it.
The trick would be to record a whole side of an LP at once and treat the recording as a single file for cleaning, silencing (of run-in and run-out groove noise), fading in and out, etc. Audacity will even normalise the whole recording, raising its maximum amplitude to (0dB).
What it will not do is place the track markers. But never fear. There is a free application which will allow the user to place markers precisely within the file (eg, at the start of the audio for each track). This is CD Wave
http://www.milosoftware.com/en/index.php?body=cdwave.php. It is particularly useful for live recordings which you wish to treat as one long take, albeit with each track indexed on the CD. It works by allowing the user to place a "split" marker exactly where he wishes to, identifying the spot both aurally and visually. When this is done, saving the file produces a copy as separate files, each named as per the original with the addition of a numerical character to identify the correct order for burning.
For example, the six-track first side of an LP called "Kiwi Rock" could be copied to the hard drive as
Kiwi Rock A.wav. After cleaning, editing the track gaps for silence between them and normalisation, running it through CD Wave and placing the five markers (for tracks 2 - 6) would divide it into six tracks called
Kiwi Rock A 01,
Kiwi Rock A 02, through to
Kiwi Rock A 06 inclusive.
However, in my opinion, you cannot get the best possible results from treating a whole side of an LP as one track. Editing will be slow and there is always the strong possibility that something annoying will be missed or simply not addressed insufficient detail by automated processes. For best results (the sort I demand), each song would have to be treated separately and saved separately, then assembled in a CD-burner application after cleaning and normalisation.
Hope this helps.