Is there a program I can use(windows) to edit a song and censor it?

I have a radio show on my colleges radio. Problem is, there isnt a delay on the radio and there is no program there to allow me to censor songs. So, the only way to do it is to mute the cd at the second of a offensive word/phrase/what-have-you and then un-mute it after. Since i am muting it, i can no longer hear the music myself. It makes it rather hard to effectively/accurately censor the songs then without completely butchering it.

I would like a program that I can just edit the song and mute it at those points then save the mp3 file that i can later just play on the radio.