It's a good idea to read the Help file on splitting, the process of dividing the WAV file into smaller sections. On the menu choose Help > Help contents and under Topics click on "Splitting the file." What you probably want is the Do it yourself section. This is the favoured option if you want to be in complete control of the operation. (Alternatively you can experiment with Auto-split, which splits a WAV file based on gaps of silence in the file.)

Open your WAV file in CD Wave. The top band of the screen shows the wave form for the complete file. The bottom band (larger) shows an enlarged section (which section? - the green indicator between the two bands marks the selected section against the top band). You can change the section displayed in the lower band by clicking anywhere in the top band (complete file).

Essentially you click in the bottom section at the place where you want to split the file. This puts in a vertical white line showing where the split will take place. You can move this to the left or right with the arrow keys, or change your mind and click somewhere else. Play the WAV to make sure you are in exactly the proper place for a track split, usually at the very beginning of each song. When you have decided on the correct place, click on the Split icon near the bottom left of the screen. That's it - you have split the WAV formation into two separate sections. You can go on to add other splits - e.g. in a WAV file of one set of a show you would probably be putting anywhere from 5 to 15 Splits before each song to divide them into individual tracks. You might also want to split off the end of each set after the band is completely finished.

The next step is saving the Split WAV tracks. Go to File > Save and choose a location to save the files, maybe in the same directory as the original. CD Wave will save all the sections in one go. If your original WAV file was ph2002-10-14d1t.wav and you have divided it into 6 sections, they will be saved as ph2002-10-14d1t01.wav, ph2002-10-14d1t02.wav, etc up to ph2002-10-14d1t06.wav. These WAVs will be cut properly on sector boundaries, and besides possibly needing renaming, are ready to be SHN'ed and seeded (along with proper MD5sums and info file).

It is also recomended to split a tiny bit before the end of the WAV file to ensure that every single track is cut on a sector boundary. And if you are seeding shows, you really should be using shntool to check your WAV files for any problems. shntool is available here.

FYI - CD Wave leaves your original parent WAV file intact - the smaller files are copies of sections - so if you make any errors in splitting you still have the original WAV file.