Yes. 64 bit system has a 32bit simulation mode to let users install 32 bit software. Program files x86 is where the 32 bit software being installed on a 64 bit system.
windows xp
Windows 95 & Windows 98
Windows 95 & Windows 98
Certified WDDM
Software installation on Windows, especially automatic installation of plug-and-play device drivers.
driver signing
Windows XP
Signed.
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Just reinstall drivers for your audio device. And it will work again. After installation you might need to reboot your system.
You are missing the software that controls a particular hardware device in your computer. http://www.driverstorer.com/help.html has a great device driver installation guide.
Windows 95, 98, 98SE, and ME (unofficially).