Gentlemen, this thread is dealing with a SOLVED problem. I hear broadband hiss in the sample caused by a very low signal to noise ratio. To wit: very low signal being boosted (amplified) through a mediocre circuit. Here''s what you need to consider:
the SM58 is a "dynamic" low-impedance microphone. It's a passive design with no pre-amp inside the mic. (Also note the 3-pin, "balanced," lo-z-cannon connector on the end of the mic.) The standard SM58 (or SM57, Beta 57, Beta 58) requires a 200 ohm ("nominal," or so-called "lo-z") matching microphone input circuit. This mic is designed to be plugged into a lo-to-hi transformer or more lilkely the a microphone input channel of a MIXER -- or similar equipment, like a HARDWARE digital audio recording interface. These devices have inputs with low-noise, high-gain, microphone pre-amps with 3-pin, cannon, input jacks for the mic cable. The SM58 is a professional vocal mic used with this standard equipment. To plug it into a Hi-z (high-impedance) input, you should use a low-to-high impedance transformer with a 3-pin cannon input and terminating in a phone plug, mini-plug, etc. that would match the hi-z input of your recording equipment. (If that is all you have available to interface to your computer.)
The SM 58 is a known item and it's easy to interface it to your computer THROUGH an external device providing a mic pre-amp as described above. I can guarantee you that the SM58 works great with no hiss with the input volume turned up when plugged into mixers by Mackie and Yamaha and digital interfaces by Mackie, M-audio, and MOTU.
I have used ALL the above-listed equipment successfully with SM58s, etc. for DAWs such as Sonar, Studio One, and others. I cannot speak to your lo-cost interface or sound card equipment. However, luckily, the cheap fix for your problem(s) is to get a decent digital interface with a decent mic pre-amp(s) with phantom power availability and use that for your Shure and any other high quality microphone, condenser or dynamic that you buy in the future. eBay has 100s of suitable interfaces for sale for $50-100.00. I've bought practically new Mackie and M-Audio units that work great for that price on eBay.
Once again we see that our DAWs and other computer music programs are wonderful tools. However basic audio engineering knowledge and practices are necessary to successfully get from the source -- live, "analog" music and vocals --INTO the destination -- the digitized music in the DAW in your computer.
Good luck with your recording projects,
Marc Mathieu,
Advanced Audio Engineering