First thing to identify is if your laptop is capable of recording in the first place.
You need to open the Volume Controls. On XP this can be done by right clicking on the little speaker icon down by the time display at the bottom right of screen.
Select Options then Properties and in the box that pops up select Recording. In the box below that what options are displayed? If you only have Mic or Line then it may be harder to do but not impossible.
If you have something like Stereo Mix or Wave or similar then you could be in business. The Stereo Mix or Wave option should be the playback stream, which is what you need.
You then need to fire up some software to record it. Something like Audacity (google it) will do the job perfectly. And let you edit out any bits you don't need. Save it to an audio file on the hard drive then burn to CD.
If you don't have Stereo Mix or whatever then it might get a little more complicated. You might have to do something like get a stereo mini-jack to stereo mini jack lead. Plug one end into the Line/Speaker Out socket and the other into the Line In. Then select Line In as your recording source.
Trouble with that is of course that you can't listen to the programme as you record it very easily.