I am doing voice recording during long sessions. I know I am not supposed to do this, but I make occasional mistakes. Ok, the truth is I make a lot of hideous misteaks, and need to go back and correct them. When I catch my mistake, I can just continue and record correctly, without the “oops”, right where I am, and proceed onward without interruption and the need to locate the beginning of the “oops”. Then I go back and edit out the “oops” at a later time. I do not know any easy way to find the “oops” so I can just delete it. What I need is to be able to hit a key which is low on the keyboard “z”, “x”, “c”, “v” or “b”, while I am recording, and it would put a mark on the time line (maybe a red arrow or line). The ideal would be to be able to complete the recording session, and then go back to the start and type the same key to move to the first “oops”, so I could edit out the “oops”. Hit the same key and I would go to the next “oops”, etc… Since the “Edit” session would not be recording, there is no real need to have to add a “Ctrl” or “Shift”. The same key could be used to mark the line during recording, and to find the mark during Editing.
I have looked through all the current stuff and could not find anything like that. Am I missing something, and if Audacity does not have that feature, is there a possibility it could be added in the near future.
As I have gotten to know Audacity, I have realized how very well it meets my needs with this one exception. Even more important, It is also priced right!! 
You are allowed to place a Label on the timeline at any time during recording.
Tracks > Add Label. My shortcut key is Command-B. Yours will be Control-B??
You need to know that when you set a label during recording, the label system will pause for you to add text or notes. If you have no text, press [enter] to continue on.
Ok, the truth is I make a lot of hideous misteaks,
That never happens to me.
Koz
Ctrl+B marks the current cursor position or selection
Ctrl+M marks the current playback or recording position
See this page in the manual: http://manual.audacityteam.org/o/man/label_tracks.html
And apologies, we know that is on overlong and clumsy page - we’re working on improving it for the next release 
WC
Thanks for your very quick response!
I have the latest version of Audacity, I forgot to mention that before.
Anyway, I found the Ctrl M worked very well and kept right on recording which for me is perfect. I also found out, I could hit a second and third Ctrl M, and even the Energizer Bunny couldn’t keep up.
After recording, I hit a Return, and all the little Ctrl Ms were happy!!
Then I hit Home to go back to the beginning to clean up my Oopses. I hit Tab to take me to the first Point marker, and it took me right where I wanted to go. Then I eliminated the section of the recording with the Oops, and the recording joined up so the Oops was gone and the recording was intact. The problem I ran into was the following Point markers did not move back and keep in sync with the now shorter recording.
Do you have any thoughts as to how to accomplish keeping the Point markers in sync with the recording when I am deleting sections of the recording?
Drag the audio selection down into the label track, or enable Tracks > Sync-Lock Tracks, then the labels will move back without having to select in the label track as well.
Gale
As Gale says.
And that’s another reason why I’m currently working (with Gale’s able editorial help) on a rewrite of the page/section of the manual that I pointed you at.
It’s still only work in progress but you may wish to have a look at the new page: http://manual.audacityteam.org/man/Label_Tracks
and this sub-page is relevant to your query: http://manual.audacityteam.org/man/Removing_Labels
WC
WOW!! Thank you very much for your super fast and very complete replies. When I type Ctrl M when recording, recording continues. This works perfectly, because I don’t lose my concentration with what I am doing. I know I have made an error. I type Ctrl M, and I just reread the sentence with the error, and continue right on. Now, I know how to sync the labels and the recording. At the end I can easily go to the beginning, find my errors and edit them out. This is perfect!! Thanks
Sam