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If your project plays back properly with the effects bypassed, but not when the effects are allowed to engage, then that is a big clue that one or more of the effects need(s) to be swapped out for some other one(s) until you move on to the mixing phase of your project's workflow. Hit the letter 'E' on your computer keyboard - this is a shortcut key in Cakewalk, that toggles either On or Off, the bypassing of loaded effects. You can try testing whether or not your effects are causing issues, by temporarily bypassing them.
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Make sure you don't have any effects loaded during recording, that are really meant for mixing/mastering, such as a convolution reverb (uses look-ahead processing and needs a huge ASIO Buffer Size to work best - these are meant to be used during mixing), or effects that use Linear Phase processing. `I suggest switching to a driver mode of ASIO, with a setting for the ASIO Buffer Size of 128 (reasonable balance that should work for recording, without running the CPU too hard).
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