Name MP3 files ripped by Windows Media Player Legacy

Windows Media Player Legacy (WMP Legacy) no longer tags songs ripped from CDs because Microsoft deactivated the capability. Can I use MP3Tag to name the MP3 files ripped by WMP Legacy? If possible, how?

I would say so.
Please see the documentation for a start.

I can see that I can manually type in the information that appear on the CD cover. But, can Mp3Tag make it easier and faster? For example, can Mp3Tag automatically retreive the album name, song titles, and artists and name the MP3 files?

See another section of the documentation:

I would suggest using a CD ripper other than the WMP, since it no longer applies tags. For example, use EAC, a free program that rips CDs, and finds the tags and applies them.

And it uses AccurateRip to verify your rip matches what others have done to ensure they are error free! Another is dBPoweramp with a simpler interface but not free.