If you are looking for a free online music production tool then the new Audiotool created by Burn Studios might be worth a look. Audiotool is a free flash based music production suite of tools that allows you to create electronic music by connecting different devices together anyway you like. Watch a demo of the cloud based application after the jump.
There are a selection of samples and audio setups to get you going together with a comprehensive selection of tutorials to help you get up to speed quickly with the various settings and features within the application. Once you have created your tune you can then download it as either a mp3 or ogg file. You will only be able to download another user’s track if they have chosen a Creative Commons license.
Source : Lifehacker