The story behind
The Alan Parsons Project recorded «Old and Wise» in the second half of 1981, as part of the album Eye in the Sky. The song was released in November 1982 as the third single from the band's discography. It was the only track with Colin Blunstone as lead vocalist, something unusual because normally it was Eric Woolfson who sang.
The original version, without orchestration or saxophone, was recorded by Woolfson, and was included as a bonus in a later edition. Blunstone used that recording to learn the lyrics. The song has a smooth rhythm, like a soft rock ballad, and is accompanied by a band that sounds clear and direct. The B-side of the single was «Children of the Moon».