There are known issues with the AWE 64 and recording/playback of audio.
1) Choose Options | MIDI Devices, and make sure the Wave Synth WG MIDI is NOT selected.

2) Choose Options | Audio and verify that the Playback and Record devices make reference to the AWE 64. Click the arrow to the right of the Playback window. If you
see reference to a voice modem, you'll need to disable it (this is done in Control Panel | Multimedia | Advanced | Audio Devices, double click on the modem and
choose Do Not Use Audio Features On This Device).

3) If audio still does not function, locate and open the SYSTEM.INI file, scroll until to find the section marked [drivers], and locate the line MIDI=wavsynwg.drv. Place
a semi-colon ( ; ) in front of the word MIDI, save the file, and restart the computer.

4) It is also a good idea to go to Control Panel | Multimedia | Advanced | Media Control Devices, double click on Wave Audio Device, and choose Do Not Use
Features.

You may also experience dropouts of audio playback during a Cakewalk session. If this occurs, do the following:
1) Run REGEDIT. It is not available in any w95 menu, but choose Start, Run, and type regedit in the box.
2) Use the search menu to find the string "FDMAPlayback". The value assigned to it should be 1. Change it to 0.
3) Do the same with the entry "FDMARecording".