You are using Creative Recorder that comes with your sound card to record. Thats all right if you want to record 'what u hear'. If thats the case you may be able to improve your recording by;
1, rip your cdg to wav rather than mp3 because you will be recording an mp3 file that will be recorded to wav again,
2 you may want to add efx during recording itself; but dont over do it .
If you want to record you vox in a seperate track then you need a muliti tracker program which Creative Recorder isn't.This way you can add efx to your vox without afecting the music track .You need to download either Audacity (free) here
http://audacity.sourceforge.net/ or you can get KRISTAL (also free) here
http://www.kreatives.org/kristal/.
Both are easy to use