Many thanks for a reply. I've downloaded the audio drivers but the program doesn't work any longer - with the message that Windows encountered problem and could no longer find solution.
If you still encounter issues with the application, then it means the software lacks compatibility or it's bugged, therefore I recommend a replacement. I have previously used Audacity and worked quite well. It's free and you can download it through the application's page: http://audacity.software.informer.com/
Or you can try WavePad Audio Editor: http://wavepad-sound-editor.software.informer.com/
It's not worth it to mess with an application if it refuses to run properly, instead switch to something that it's supported and updated for latest versions of Windows operating system.