OK, I got one of those too probably very similar...
Mash the volume buttons for Playback & Sound Recording you should get a number of sliders which will also have a 'MUTE' tick... Check the 'OPTIONS' in the top menu bar to make sure everything is shown that can be shown...
Then eliminate something that's obviously malcontent as far as setting or if no clue play around one at a time & reset to way it was if no change...
In the volume panel it might be a good idea to MUTE the 'SW Synth' when not using as it may conflict with audio devices... That is the Microsoft MIDI Synth (unless you have other default)... I use the Yamaha one in XP, sounds very good>>>
View attachment 2291