Before fooling with software tweaking, have you disconnected and reconnected the hardware and cables you're using? Taking a little time to do that might save you a lot of grief (because after you do all of the software stuff you'll STILL have to plug in the cables properly!)

I'm not familiar with the particular recording program, but it sounds like the difficulty is OS or equpiment generated, so I'd look at equipment first then the OS and since you can in theory go back, you might have to. Are you familiar with XPs "go back" feature? Can you pinpoint a date when the software died?

Meanwhile, John In Kansas will no doubt notice this thread and offer a couple of yards of text to help solve the problem!

SRS