Karaoke 5 software (version 46.01) is a versatile karaoke player that enables users to create, manage, and play karaoke files. It offers a range of features such as mixing, synchronizing, and adjusting tempo and pitch of audio files. Additionally, the software allows users to create playlists and customize the interface to suit their preferences. It also supports various file formats, including MP3, MIDI, and K5.