When a cake has baked and I take it out of the oven, what is the best method to keep moisture in it? I have read that people put the cake in the freezer right away. Do I take it out of the pan and wrap it or leave it in the pan and wrap it. Or do I refrigerate it. If refrigerate, again in the pan or out. Or just let it cool on cooling racks and then wrap till needed?
Thanks.
I have been told to never refrigerate a cake since it can dry it out.
However, in my experience, freezing a properly wrapped cake DOES make it moister. I remove my cakes from the pans, cool on a wire rack, wrap in plastic wrap and then an outer wrap of heavy duty foil or regular white freezer paper. Just make sure you don't have anything in your freezer that could transfer an icky smell or taste to your cake.
When thawing my cakes, I let them sit out overnight in the original wrapping on the counter, then unwrap. HTH. 
Here's the original freeze while hot cake thread:
(Which gives many points of view.)
http://cakecentral.com/cake-decorating-ftopict-610054-.html
HTH
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