Create Separate Files for Videos with Bookmarks

There are times where videos on YouTube will have specific book marks at where various songs are within the album/playlist, and I would like there to be a way where; in the same way that you do with a playlist; you can choose to either download the video in its entirety, or have the video spliced up at the various book marks and create separate files for each song instead of having to download the entire album and then manually need to splice the songs up in an audio editing software.