Edit out an inappropriate word by recording another word?

I have Audacity 2.0.5 and I am operating on a MAC OSX 10.8.4. My daughter and her friends want to lip synch and dance to Wannabe by The Spice Girls. The lyric is “if you want to be my lover”. I want to edit out the word lover and replace it with the kids singing sweetheart instead on the actual song. I need to do this for three different words. Is it possible to record over the word or should I just get rid of the word as a bleep and leave it at that. Also I need to edit out an entire verse to make the song run two minutes instead of three. Thanks for any help.

Drag-select “lover” plus a bit either side if possible. COMMAND + OPTION + K to split delete the selection.

Record “sweetheart” which will record in that selection in the track underneath.

You can use Time Shift Tool (press the F5 key on your keyboard) to drag the recorded bit to exactly where it fits. You may need to drag rightwards the clip that now exists to right of the split delete (where “lover” used to be).

This is crude, to avoid clicks you may need to use Envelope Tool (F2) to fade out “lover” and fade in “sweetheart” then fade out “sweetheart” and fade in what follows it.

Drag-select what you want to delete and press Delete on the keyboard.