Everything I record is clipping, I believe that's the correct term, quite badly. When I play my recordings back they cut out really badly and I don't know why. I've tried recording at high volume with the pad on and the mic gain around noon and that seemed to avoid it to some degree, but the recordings still clip whenever I've used any amount of dynamics in my playing. When I try recording at low volume and low-to-moderate mic gain it's far worse. What could be causing this problem? And what could prevent it from happening? I guess I should say that I'm pretty new to home-recording. :p

Here's my recording setup:

Software: Cubase LE4

Interface: Lexicon Omega

Mic: SM57

Computer: Toshiba Satellite L655D - 280g, 4g RAM, 2.3 GHz AMD Turion II Dual-Core processor

Rig: LP Standard > Pedal train > Marshall TSL601
There are many things this could be. First, what are you input levels? I generally set mine only as high as they can be without clipping when I'm playing as hard and loud as I can. You should have some kind of meter that will go into the red when you're clipping. Additionally, it might be in your post production. Do you boost te volume at all when you export? Sometimes it won't clip in the DAW but will when you export if you've set it too high.
Winner of the 2011 Virginia Guitar Festival

Protools HD
Lynx Aurora 16/HD192
Mojave, Sennheiser, AKG, EV etc mics
Focusrite ISA828 pres
Waves Mercury
Random Rack Gear

65 Deluxe Reverb
American Standard Strat
Taylor 712
Are you sure clipping is the correct term you want? Clipping in simpliest terms means the audio is being recorded to loud for either the hardware or software causing a layer of distortion/white noise basically added to the sound.

Your saying your audio is cutting out though which sounds likes its something else.

Two very different problems. For cuttin out first thin to always check is your cables. For clipping check your hardware and software and make sure the level is coming out below 0db. A hardware clip will make your sound wave look like a square wave.
Cutting would be the more proper term, then. I've checked all of my cables several times over and they're all connected properly. Also, I tried recording with my input levels as low as -10db and it was just as bad. None of my meters are picking up on any clipping during recording and I don't boost the volume at all in post-production.