Read Bill Hunt on Audio Conforming http://forums.adobe.com/thread/726693
And LOTS more information required for someone to help
From the Premiere Elements Information FAQ http://forums.adobe.com/thread/1042180
•You MUST use an account with Administrator Privileges to run Premiere Elements
•(Doing Run as Administrator http://forums.adobe.com/thread/969395 [says Encore and also for "All" versions of Premiere] will sometimes fix "odd" errors)
•What version of Premiere Elements? Include the minor version number (e.g., Premiere Elements 12 with the 12.0.1 update).
•What operating system? This should include specific minor version numbers, like "Mac OSX v10.6.8"---not just "Mac"
•Has this ever worked before? If so, do you recall any changes you made to Premiere Elements, such as adding Plug-ins, brushes, etc.? Did you make any changes to your system, such as updating hardware, printers or drivers; or installing/uninstalling any programs?
•Have you installed any recent program or OS updates? (If not, you should. They fix a lot of problems.)
•What kind(s) of image file(s)? When talking about camera raw files, include the model of camera.
•If you are getting error message(s), what is the full text of the error message(s)?
•What were you doing when the problem occurred?
•What other software are you running?
•Tell us about your computer hardware. How much RAM is installed? How much free space is on your system (C:) drive?
And some other questions...
•What are you editing, and does your video have a red line over it BEFORE you do any work?
•Which version of Quicktime do you have installed?
Exactly what is INSIDE the video you are editing?
Codec & Format information, with 2 links inside for you to read http://forums.adobe.com/thread/1270588
Report back with the codec details of your file, use the programs below... A screen shot works well to SHOW people what you are doing
http://forums.adobe.com/thread/592070?tstart=30 for screen shot instructions
Free programs to get file information for PC/Mac http://mediaarea.net/en/MediaInfo/Download
What version of Premiere Elements are you using and on what computer operating system is it running?
What are the video and audio properties of your source media. Please state Brand/Model/Settings for camera which recorded the video?
What are you setting for the project preset for the project so that the project preset matches the properties of the source media?
How are you importing your source media into the project?
If you open a new project, is the problem gone?
And, are you adding any narration clips created with the program's Narration Tool to the Timeline content?
Even though you cannot hear sound, is there an audio component in Audio 1 when you drag the source file to the Timeline?
The answers are in the details and you have not given enough so that we can custom a Premiere Elements answer for your Premiere Elements question.
Looking forward to your follow up.