I'm going to choose to ignore the fact that you are, most likely, downloading copyright material, (why did we need to be told this?!) and focus on the question at hand...
If you are running Windows (or Wine) the easiest answer is
Exact Audio Copy; it is likely that most people are using this excellent ripper.
Another option may be (not sure) dbPowerAmp, but it is not free.
Edit: If you are interested in this area, it is probably worth pointing out that there are many
lossless codecs to choose from. Many on this board use FLAC; I use WavPack (although I used to use Monkeys Audio). A newer, promising codec is called TAK. Follow the "
lossless" link, which will take you to a page in our wiki with some information, and further links to information which will set your head spinning. There is also a page regarding
EAC, with links to guides telling you how to set up EAC to rip to various formats.