I was just wondering if you are able to hear your guitar playing through the computer instead of just relying on your guitar's unplugged sound. If you can how do you do it? And I dont plug it into my amp because there is this hissing noise you hear out of the amp when the line in input is in use, and the hissing noise gets recorded through audacity.
Audacity thread.

But because Im so awesome, go edit > preferences > audio I/O, and you can select "software playthough" which lets you hear what's going in.
I have not used Audacity, but I am VERY sure you should be able to hear (monitor) your guitar through your headphones, speakers etc. I have only used N-Track and Reaper for Multitrack recording and both allow you to monitor your guitar sound. I cannot imagine a multitrack software package that would not have this mandatory feature.
^ for some reason, sometimes when you install audacity the option is turned off as default, as is the option to play through other tracks while recording.