Audacity and Windows 7

How do i record? when i go to my recording devices in the sound section of the control panel, to enable the WaveOut thing, its not there. I try redownloading my audio driver, but it just tells me installation failed.

PC > Acer Aspire m5640

If you are trying to record the sound coming out of your computer speakers/headphones, use [u]WASAPI loopback[/u] as your recording device.

If you want to record the sound from the microphone or microphone input, etc., select the appropriate input.