This new effect will fix a small pop or click in an audio track by smoothly interpolating the damaged audio samples. It is designed to fix very short glitches, not major distortion or background noise. It can fix minor clipping.
First, find the damanged part of your recording and zoom in
until you can see the individual audio samples.
Select the damaged portion of the audio.
Choose Repair from the Effect menu.
The selection is replaced with smoothly interpolated samples.
The new Equalization effect, shown below, has many more controls for constructing a complex filter to enhance or reduce certain frequencies. You can either draw an arbitrary equalization curve, or use a graphic equalizer.