Sound on Windows 7 Home Premium 64 bit

[Dean Masters]

I want to record some cassettes to my PC running a patch cord from my stereo 
to line in on my PC. I am using MP3DirectCut.

Is there some way to lower the volume of the line in without lowering the 
volume on the stereo? Or is there some way I could mute the sound coming 
through my speakers as it is recording so I can hear what JAWS is saying? I 
would like to get other work done while I record.

thanks,
Dean