I usually use Adobe Audition (free, if you know how

) and use filters like Click/Pop Eliminator, Hiss Reduction and Noise Reduction.
If the volume is too soft or too loud, try looking for an effect called Amplitude Normalize.
You'll have to try out the various filters, I don't usually go to the extent of adjusting frequency and stuff. If it sounds too hollow, try looking for something along the line of HighPass or LowPass.
