Not sure if this will solve your problem, but you can try opening the preferences pane in itunes. once there go to general settings which is the first tab on the far left, and click where it says import settings. after the import settings window opens, change the import using to mp3 encoder and the setting to higher quality. click ok in that open window, then click ok again to leave the preferences. After all of this select the .wav file that you have in itunes that is in question and go to the Advanced tab in the toolbar and select create mp3 version. this command will do exactly such.
hopefully in mp3 format you'll be able to listen to your recordings.
i hope this helps...if it doesnt at least you now know how to convert sound files to mp3 version in itunes, if you didnt know until now.
best of luck!