Converting 320 bitrate to 192 bitrate

I have around 6 to 8 thousand songs on my computer. 90% of the songs are at a 320-bitrate. I was wondering if their was software out there that could convert from 320 to 192 bitrate with out losing the quality I would have had had I recorded it at 192 in the first place. What is the 411 on this mater.

Easy CD-DA Extractor will do it all.