Intermission is a new app from Rogue Amoeba that lets you easily rewind any audio on your Mac, including live streaming audio like radio programs, sports, and teleconferences. Intermission sits in your menu bar for fast access, though it also supports global keyboard shortcuts. To pause audio, simply click the icon and then click the pause button on the drop-down menu. You can also jump back and jump forward on a track with the corresponding buttons. The amount of time that you can jump forward and back can be set in Preferences.
When listening to live-streaming audio, you can pause and jump back to listen to something you may have missed. But you can also catch back up to the live audio by hitting the "Jump to Live" button. Intermission can buffer up to three hours of audio for flexibility in listening. It also works with recorded audio in iTunes, Spotify, and more. You can download Intermission right now directly from Rogue Amoeba as a free trial, and if you feel like using it full-time, it's just $15 in their online store.