How to record from soundcard AND microphone the same time in 2 channels


is it possible to record into 2 channels, a) from the soundcard and b) from the microphone - at the same time?

Or do I have to use 2 instances of audacity to accomplish this?

Or running the second instance in a virtual machine?

What is the plan behind this:
I like to record a conference / webinar session, which is run and recorded by ZOOM, but all goes through the internet with its distortions. So I like to record at least the teacher locally - hence recording the mic - and if possible at the same time the voices from the clients, which runs through the soundcard - hence recording from the soundcard.

Curious, if anyone comes up with an idea.