You have a multimedia card. YOu should get an Audio soundcard...less noice and pro quality. If you are on a budget I have seen used Card D+ forsale for under $100 at Harmony Central. This is a ISA card and used to make albums for bands such as The Moody Blues...originally over $1200 with the I/O card. There are no frills...2 ins..2 outs. In performance test the new Card Deluxe (PCI)is the best of all tested...it is $399 at www.digitalaudiolabs.com.
The reason I recommend getting the used one (if it suits your needs) is because there is nothing worse than making recordings with hiss and poor quality, taking hours, days, weeks, months....and then wishing you had spent the $100. There are other cards that are excellent too.