Create a simple audio track recorder

To work on XP, VISTA & WINDOWS 7 It needs to be able to play audio while recording another track through a microphone as the same time. It needs to be able to then play those two tracks together. Because of audio time lag, the microphone recording will be a little late. You need to create a simple test find the amount of that lag. It need to be able to use that millisecond amount worked out by the lag test to adjust the start time of the recording to that it is then in time with the first auto file. It needs to be expandable to add new features like reverb, skins and more tracks in the future.