Cam studio recorder 2.0 failed to record sound

Hi experts,
I was just trying to record the sound coming from the speakers using the cam studio recorder 2.0 but I got this annoying error message saying “WaveoutGateSelectControl () failed”.
What could be the cause of this error?
Can I get the resolution to fix this problem. I would be grateful to you.

Note
WaveoutGateSelectControl () failed
