The Online Family answers:

Yes, you sure can. CD tracks are much easier to transfer onto your iPod or any MP3 player. You can use the software on your computer -- such as iTunes -- to import tracks from your CDs and automatically convert them to MP3s (iTunes will even, in most cases, file your new MP3s under the proper song titles and artist names). Now, when it comes to converting your old cassettes to MP3s, this is a bit trickier. According to the web site Macworld, you'll need to connect an amplifier to your computer and essentially play your tapes and re-record the audio digitally. This is a multi-step process with a lot of different options, so check out Macworld or Audacity for detailed tutorials.