Video MPG (VCD) to Audio MP3

Archived from groups: microsoft.public.windowsxp.video (More info?)

I converted some old VCR tapes of speaking engagements to the MPG (VCD)
format. Is there software (program) that will allow me to extract the audio
from these MPS and save it to a MP3 format that will play in a MP3 player.
What about any audio format that will play on the computer?

Thanks for any help
Jerry