Welcome to the forum.
There is an insane number of posts on this forum relating to you problem which can be revealed with the Search function.
Here is an example:
Open the Volume Control panel.
Under the Options menu, select Properties.
There's a box there labelled 'Adjust volume for'; change the radio button to Recording.
Hit OK.
In the panel you get, make sure the 'select' button is checked only for the input you're using. In other words, uncheck everything else.
In order of priority, I'd recommend:
1) Try the above: if it (or something similar) works: great but then:
2) Download & install the ASIO4ALL drivers - this will give you greater control & better latency
3) Buy a better soundcard/audio interface - there are plenty of threads here on this subject
4) Consider upgrading Pro Audio to something made in this century unless you're completely happy with it in which case... no worries !
Good luck.
<edit> learn how to use the forum Search or (perhaps better still) enter your search arguments into Google using the
site:cakewalk.com option
post edited by Rev. Jem - 2007/04/29 23:38:17