I've been a huge fan of Rogue Amoeba products for years. They offer clever audio solutions for OS X. Rogue Amoeba's new Intermission (US$15) utility fills a role on my Mac that I never even knew I needed.
Intermission enables you to pause, rewind, and skip through live audio streams. This lets you take control of any audio you listen to, regardless of application. It just works, always passively listening and ready for you to take charge.
Let's say you're listening to Spotify or Pandora, and you hear a great song. You can immediately rewind and play the song again. Intermission automatically buffers that audio for you.
Or, say you're listening to a live stream. I do this all the time here at TUAW for product announcements and fina