can't use 2 sound programs at onceFollow

I'm trying to use morphvox (program that changes your voice) with something like audacity (to record) or skype (so my friends can hear me sound weird) but whenever I try to use it with audacity it says:

"Error while opening sound device. Please check the input device settings and the project sample rate"

And if I try to use it with skype, it just auto disconnects me when I start a call with my friends. Is this a sound card problem or something that can be fixed with a download or changed settings?