Questions about HTML5 audio

Question

<audio src="http://upload.wikimedia.org/wikipedia/commons/8/82/Riddle_song.ogg"&gt;&lt;/audio&gt;

<ul id="lyrics">
    <li>line 1</li>
    <li>line 2</li>
    <li>line 3</li>
    <li>and so on...</li>
</ul><!-- end #lyrics -->

So I want to:

1. Highlight (change color or background) of the line that is being played.
2. Save current time to a cookie and resume on next visit.

I'm not sure if either of these are possible in HTML5, but even in Flash or other technology, I'd like to know if and how it is possible. I understand #2 is asking too much, but #1 is really important.

So almost similar to this: http://randallagordon.com/jaraoke/ but all the lines are visible, just the current line is highlighted.

Many thanks for your help.