Is there any way to cut out sections of a track and splice them together?

I sometimes flub a note or two and don’t really want to have to re-record the whole thing…but I will if I have to!

I should just put on my big boy pants and do the whole song over, or is there a better way?

Replacing a single word is tricky to without the repair being obvious. Better to replace the entire phrase, or even the whole verse.

To do that, mute your first take (the track with the mistake) and re-record the bad part - start recording from before the mistake, and carry on past the mistake. The excess recording can be trimmed off after recording.

Make a backup copy of the project before editing.

Use “Split Delete” (“Edit menu > Remove Special > Split Delete”) to remove the bad part from the original track.
Use the “Time Shift Tool” if necessary to get the new clip in the exact right place
If necessary, a short “crossfade” can help to make the edit seamless