Streamripper records shoutcast-compatible streams. For shoutcast style streams it finds the "meta data" or track separation data, and uses that as a marker for where the track should be separated.
This is the quick and dirty tutorial on using the Streamripper plugin for Winamp. The following Steps should get you going ripping streams.
1. Install Streamripper for Winamp. 2. Go to shoutcast.com, icecast.org, or your favourite Radio Station website (if it uses shoutcast or icecast streaming), and click on a stream. 3. Depending on which Winamp version you use... * Winamp 2.x: Both the Winamp and Streamripper windows should come up. If you don't see Streamripper try clicking the SR icon in the taskbar. * Winamp3: Winamp appears, if you don't see Streamripper go to the Thinger window, scroll right in it and you should see the SR icon - click it. 4. The stream should be playing in Winamp, if it's not, click "Play". 5. On the top of Streamripper, notice it says 'Press start to rip http://something:port' etc. Click "Start" to start ripping.