set up options not available

I am using Windows 8.1
I have just obtained Audacity 2.0.3
The direction booklet said to set up recording device to be “USB PnP Audio Device”, but that option is not available in the drop-down box.
When I use the default option, the cassette is played at a too rapid speed, all voices sounding high, squeaky, and fast.

2.0.3 is very old now. I suggest you obtain 2.1.2 from Then you can follow along with these instructions: They apply to USB cassette recorders too.

If you connected the USB cassette player after Audacity was open, use Transport > Rescan Audio Devices at the top of Audacity, then you should be able to choose the USB device as recording device in Device Toolbar. Choose the computer speakers as playback device.