Listen N Write can be used to play and transcribe ordinary WAV or MP3 recordings. 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 Stop key.
Listen N Write can be considered the standard program for any transcription because of its semplicity of use and small size.
It doesn't use speech recognition or automatic transcription. It's simply a media player bundled with a text editor, but a media player with subtle but clever differences that make it a great tool for playing back recorded lectures and speeches (for example) and writing down what you hear.