If you have them available you really are better off using hardware compression set for limiting on certain tracks like Bass, Vocals and kick. You don't need to overdo it, just a fast attach and low ratio to catch potential overs. And that said even if a few overs sneak in they are often not going to ruin the recording. 
You just edit them out later with a volume envelope or whatever. 
Turning it way down the track will lose punch. Don't forget, the send to the computer may be digital, but Pre amps are analog and need to be driven to give out their full potential and some tone.  A wimpy signal is a wimpy signal. 
Your Motu was designed to make good live recordings and that's why it has the compressors built in.It's one of the reasons I was looking to buy one just for live recording. 
Right now I can use my 01V as I have 6 outs from that. 

fireberd
Can I use the concrete limiter to be a peak limiter during recording?  Or do I need to use something else or do any limiting in my recording interface unit??  

 
IMHO there is no point at all to use a software limiter and print it onto the recording. You could always do that afterwards ... plus there is no point to record so hot as modern interfaces have an incredible low noise floor.
 
I would also advise against using compressors / limiters found on audio interfaces, as these are simple DSP algorithms without much control and often a lot less musical / suitable than anything you have in your plugin arsenal that you could throw onto the track later.
 
So unless you have a good analog hardware device in the signal chain on the way in, I would not print it (i.e. record it) to the track.
 

I'll use the limiter in the MOTU. I'll set it for 0DB and it should never get there and thus will not affect the dynamic range of the vocals. If it does, a limiter is better than a compressor for this purpose. 
 
I've been using -8 as I've got one "hard of hearing" singer and he complains he can't hear himself unless I have him at a higher volume level.   I don't argue with him as he is a retired Nashville songwriter and has done major label producing at the old "Bradley's Barn" and for Columbia records.  I've learned a lot from him as he is a Billy Sherrill protégé.