This is what happens when pirates leave their ship unguarded.
****UPDATE****: Ok, finally found a way to "improve" the sound quality. Instead of importing the .mp3 file, I converted it to .wav and imported that file. No more cracks and pops! Strange but at least it sounds better. Yaaarrrrrh!!!! :S
****NOTE****: Sorry, I don't know how to improve the audio quality. It sounds better as an .mp3 but after publishing the movie in Flash, the sound becomes worse. I've tried a few things but nothing seems to work :(