How do I burn the full album as a single audio file?

Which format and quality to use as best option? (avoiding huge file sizes)

Which software to use for creating the video? (adding some images such as the album cover, perhaps some band photos, subtitles for the tracks names etc).

Which format and quality to use for the video output file?

I'm quite null in these things so not highly complicated solutions please. And using free software only (for Windows 8).

I have Audacity and Windows Movie Maker and I guess that they can do the job but I never tried, so before spending time trying I prefer asking advice first.

Thanks!

I'm thinking about some old obscure albums, so copyright issues should not be a problem I guess.