I just purchased a new HDTV and it only has 1 audio output. It says it's coaxial but it's not like a screw on RF coax like you use for cable TV. Instead it looks just like an RCA output, and in fact an RCA plug fits on it perfectly. However, there is only one output and my receiver accepts standard left and right RCA. Is there a way to convert the one output into the two RCA's? I'm not too sure if the output on the TV is digital or what, the owner's manual is very vague.
That one audio output from your TV is a Digital Coaxial Output, and you are right it uses an RCA type cable. However, if your receiver does not have an input for a digital coaxial cable then you are out of luck.
You cannot convert a digital coaxial output to split into 2 regular RCA output. The signal is different.