Sounds like a latency issue. You just have to change your program's latency settings and hope that your computer can handle the changes. The soundcard your using is important. I had the same problem many years ago and it was my latency and soundcard. It was an old box but since I upgraded I've never had that problem. Your program 'Cool Edit' probably automatically detects the latency and sets it up for you. You'll have to go into your options and play with some changes. Look up 'Latency' on the internet. Hope that helps.
Dave