Students, conference attendees, lawyers, and anyone who has to transcribe recorded audio should try Listen N Write, a free tool designed specifically for transcription.

Version: 1.30.0.8Listen N Write is a free software that can be used to play and transcribe ordinary audio and video recordings.
License: Free
Operating System: Windows
Homepage: sites.google.com
Developed by:
Listen N Write has special features simplifying the transcription work as you can control via keys (while using its integrated word processor) and insert time markers (bookmarks).
Moreover, the audio stream is automatically rewinded a few seconds when pressing the Pause key.
Listen N Write can be considered the standard program for any transcription because of its simplicity of use and small size.
What's New
Version 1.30.0.8: Fixes and improvements.
Version 1.30.0.6: Important changes and improvements.
Version 1.21.0.0: Changes and improvements.
Version 1.20.0.1: Correct translation of some menu items; Automatic recognition of the Dutch language was added; Added language and guide in Danish (Dansk); Other changes and improvements.
Version 1.19.0.2: Added the reading of the WebM format (if not recognized you must install the appropriate codecs).