cassette tape to mp3 in Audacity? HOW?

Can Audacity for Mac 1.2.5 be used to turn a cassette tape into an mp3? How does one do this and are the results ok?

Thanks. Ellen

See this page in the Wiki: http://audacityteam.org/wiki/index.php?title=Transferring_tapes_and_records_to_computer_or_CD

WC