These are the following Steps to be followed:

1)Open Windows Media player 11.

2)On the top menu,click tools ,and then select options.

3)There will be a tab on top called 'RIP music' click on it.

4)Here u will find option for ripping tracks from CD to Computer.

5)By default it is WMA.

6)Change it to MP3 - keep a bit rate of 192 kbps.

7)Re-Do the Cd you had earlier.

8)These new MP3 files will work fine on the PSP now.