This page describes a method to backup the contents of an audio cd with FLAC lossless compression to a matroska MKA container. Compression is about 50%, and in this single mka file there may also be a cue file (with track information), EAC log file (with extracting information) and album artwork.1)
MKA files with flac compression play natively in VLC media player and in MS Windows on Media Player Classic (with ffdshow audio decoder installed). Once an mka file is properly encoded, media players will show buttons for navigating to previous and next tracks.
EAC is shipped with proper settings for flac encoding. Follow the installer wizard, select options for flac encoding. For freedb, set “Your E-Mail address” to an e-mail address
(Another option to automate the mka process, would be using command line. See: 2) )
You're done, click on the button Start muxing
/Applications/MPlayer OSX Extended.app/Contents/Resources/Binaries/mpextended.mpBinaries/Contents/MacOS/mplayer -vo null -ao pcm:file=/Users/fluffy/out.wav input.mka