TOO LOUD! How to turn down volume?

[Shockwave]

Ok, I've set the speaker icon in the taskbar (volume control) to as low as it will go on everything, and the program (Media Player streaming) as low as it will go too, but its still really LOUD. Its as if somehow I have like a +12 dB gain somewhere or something wierd.
Any thoughts on how to fix this?
Thanks

Forgot to add...
WinNT
SoundMAX playback (Whatever was in this POS box...)
Streaming media from Launch.com

 

[Budman]

turn counter clockwize your speaker volume.

 

[Shockwave]

Cant, using headphones directly into soundcard

 

[Dim]

Plug the headphones into the headphone jack instead of the line out.