???Just Bought An M-Audio Fast Track Pro Interface???

[JDunkz650]

Im new to the recording thing and I recently bought an HP dv6871 laptop, I tried to post a url but it wont let me because im too new to the forum. But anyway I just bought an M-Audio Fast Track Pro interface. I still havn't gottin a mic and need help with what i should get. I also have no experience with any interfaces and this is my first time trying to assemble a home studio on my own. I am a little confused... since the M-Audio interface hooks up to my laptop through USB, do i just plug the microphone into the interface and everything should run smoothly??? When i tried to change my Fruity Loops Studio 7 settings to select M-Audio as my driver, Fruity Loops told me that "there is not enough ASIO output channels available. At least two channels are needed" and then nothing really works untill i change the driver settings back onto primary source! is this just because I dont have a mic plugged into my M-Audio yet, or is this something that needs to be fixed before my interface will work??? I plan on recording vocals onto programs such as Sonar with beats i make from FL Studio 7. Someone please help me, or else i will never understand. lol I appreciate it