for some reason when i record in cakewalk, the playback is very slow and distorted, but when im not recording it sounds prfectly fine?, also if i record in any other program the playback sounds normal but it plays a second too late like its delayed. I just got a Creative Sound Blaster x-fi sound card so i think it might have to do with that but i have no idea what settings i should change.
You might be overloading the sound card. It's not meant to handle multiple tracks at once...a semi-pro audio card like the M Audio Delta 44 or Audiophile 2496 (or Emu 0404) are better at handling recording than the X-fi, which is more for gaming.

First, update the drivers...if that doesn't work, look into spending a little more.