I would suggest converting that file to an avi file, this will give you an audio file..
Just make sure you render the audio as high as possible to enable some sort of re equlisation or effects with out too much signal loss..
I have Cool edit pro, which has a multitude of filters, it allows me to process the signal anyway I want, taking out crackle, noise, pops etc.
A lot of experimenting involved, but its worth the time..
I took a mono source, recorded on an MP3 player, from the phone, and made it into a stereo music track..
My nephew left a daft message on the answering machine, so I had some fun with him.
The original pales in comparison from the end product.
But I knew what I was doing..
You will be able to do basic things, it should not be a problem with reading some hints..
Hope this helps..