There's a easy way of doing this, though I've noticed a small decrease in audio quality from doing it this way (basically it's the really cheap way of doing it cause I had everything on hand):
You'll need a program that can record audio and you'll need a cable with the male end at both ends; if you have a splitter for such a cable that also comes in real handy.
Simply plug one end into where you jack your speakers in (this is were the splitter comes in handy so you can rig the speakers in as well so you can actually hear what you're recording) and plug the other end into the mircophone port (this consitites the "in-line").
Once that's done start recording with the program you have chosen and then start the DVD or video clip.
The only catches are:
- small decrease in audio quality though a better sound card may make up for that (it may just be my crappy speakers making me think that)
- it's a good idea to put the "in-line" volume as low as it can go because you'll probably be using the volumes on the computer and whatever the video is playing in.
- beacuse of the above you'll have to tinker with the volumes
- you can't do anything on your computer that would make a noise while recording becuase you're recording live - instant messengers are the main threat.
Anyway, that's one way to do it. Though I wouldn't mind knowing about a better way to do it myself.