It is not free, you must pay for it, but I am told it has a 30 day trial. (I haven't yet tried it out).
They also provide software for databasing your videos, books, software and even your stamp collection.
The music software seems to be best for cataloging your cd/vinyl collection, not for having a library of audio files. But it states you can attach an audio file to each track in the database. Still, a lot can be learned from their tagging system.