Latency Issues, Please Help!

Hi, I wasn't sure exactly where to post this topic, so I thought it best to post according to the software that I'm using.
 
I have Cakewalk Pro Audio 9, and since I've been using this application, things have been wonderful up until a recent dilemma.
 
I have been encountering bad issues of latency! This was not the case when I first started using Cakewalk. My first recordings came out beautifully timed and in synch, but I've since been a bit discourage dby this new problem.
 
I tried using another recording device thinking that it was the Cakewalk program, but have the same problem, so I'm sure that it's not in the software.
 
I'm using a Dell Inspiron 1300 and have been plugging a mic directly into the computer and using it's SigmaTel Audio.
 
I've been researching this, and see many mentioning the necessity of a sound card, but the sound cards that I find for my computer model do not support ASIO
 
I found a site called ASIO4ALL @ asio4all.com , but I'm guessing that I'll first need a sound card to operate this funtion.
 
I thought that maybe it was a problem with my memory, but I backed up tons of music, and deleted them for space, but still have the problem.
 
I always use my disc cleanup, and defrag like it's going out of style. I can't seem to put my finger on this. I can't see why I would not have had this problem earlier, if I wouldn't have needed some sort of device or driver to begin with. 
 
I also came across this little device in my research and was wondering if this would address the issue:
http://accessories.us.dell.com/sna/products/Modems/productdetail.aspx?c=us&l=en&cs=04&sku=A1763838#Overview
 
I can't afford to make any unnecessary purchases, so I'm hoping to figure this thing out before I do just that.
 
If anyone can help or has any suggestions, I would really appreciate your advice.
 
Thanks