What is the best Software to Digitize LP's?

Check out Audacity http://audacity.sourceforge.net/. It's a really nice sound editor with click (and other noise) removal and it's FREE! Depending on your setup, it can also record from the line in on your sound card and then split and save the tracks (although this will be a manual process).

Dick

These methods will all work to remove noise. If the noise is REALLY bad, not just some random clicks but really bad surface noise, the filtering can be somewhat destructive to the audio. So you have to use the filters carefully.

The challenge you have is that you have copies in 16/44.1
(redbook) and you basically need to:

1. Copy the CD's to your computer
2. Run them through click repair (which I use to great success) or another piece of software
3. Burn them back to CD

I prefer to do the rip and edit as 24/96 files ripped to my Mac. Then, do the edits/filters, then down-convert to redbook if I'm going to burn a CD (which isn't often these days).

Thanks for the great responses. I think I'm going to try Click repair and see how it goes.

Well you asked for "the best". Cedar and Algorithmix make the best software.
You can pretty much use any software to "capture" the recording. The main thing is to use a great A-D converter.
I wouldn't recommend anything less than a Metric Halo or Lynx Aurora.