Verify if you have sound from programs other than Audacity. If not, check to make sure that your sound card and speakers are connected properly. There may be multiple jacks on your sound card. If your card's jacks are color-coded, plug your speakers into the green jack. Make sure speaker power is on and check again with a media player program. If you do not have sound coming from other programs, chances are Audacity will be no different.
Open Audacity 1.3.4 and check that it is set to work with your sound card. Click on "Edit" from the menu bar and select "Preferences" from the drop-down list. Select the "Devices" item and check the settings. For "Host," choose "ASIO" or "MME" if the options are available, "Windows Direct Sound" if they are not. Choose your desired sound card for the playback device and the recording device. Click "OK" and your sound card is ready to go.
Audacity is simple to use. Connect a sound source like a microphone or instrument to your sound card input. Press the record button in the transport section at the top left of the window. The program will add a track and begin recording. If sound is present, you will see both level indicators at the top of the window and waveforms drawn on the track line. If you hear no sound on playback, choose an alternate playback device from the "Preference" option until you can hear what you recorded.
If you have confirmed that your sound card works with other programs, but no signal is present when you attempt to record, the problem is likely with how you deliver audio to your sound card inputs. Microphones directly connected to a sound card use the pink jack while line level sources use the blue jack. Verify these connections. When using an audio interface like a mixer, check your manufacturer's instructions for correct connection to your computer.
Audacity version 1.3.4 dates to 2007 and is no longer supported. Unlike commercial software, Audacity remains free, so there is no charge to update to the newest versions, with which you are more likely to find current support and help through user forums. The Audacity site maintains the current full release as well as a more recent beta version. Note that the last digits in Audacity's version numbers are not decimals. Thus, version 1.3.13 is more recent than 1.3.4.