You did not talk about Music Maker version you use.
Any way, I will share what I do in Music Maker 16 Premium.
First of all about BAK
Open Music Maker, Click on File/Load arrangement Ctrl+O
a window will be opened look at the right below and
change Arrangement(*mmm)to All files, locate your BAK file
open it. (First you should save it in mmm format if you did not do it before. Now you will have two file BAK and mmm.)
Click on File/Export chosse from drop down menu audio as MP3
Follow screen shot from MMM 16 Premium
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Now Media clip do you mean video? I have never tried to save video clip as audio but you can try above method and see if it will work or not. Note: in some version of Music Maker you will have to activate MP3 function.
If you need to extract audio from video you can use