https://forum.audacityteam.org/t/help-recording-with-a-mic-laptop-and-headphones/35068/1
You are warned about trying to do production in MP3. MP3 compression sound damage builds as you edit. Also, some packages will not give you a split show which can be OK if the sound quality and volume work OK in one pass.
Some people do manage to get Audacity to work recording a full podcast show with Skype, but the process is magic and unreliable.
Koz