What version of Premiere Elements do you have on your Windows 8 (assumed 64 bit).
Provided your USB microphone is supported by Premiere Elements and is connected to your computer, you use the project's Narration Tool to record to your narration.
When done, the wav clip appears automatically on the project's Timeline at the track designated for narration clips. You also get a chance to play the narration in the Narration Tool dialog before the wav clip appears on the Timeline.
Please consider and supply more details.
Have you seen the Adobe document on Premiere Elements and Narration? https://helpx.adobe.com/premiere-elements/using/create-narrations.html
I am using Premiere Elements 14.
I have followed the instructions for inserting/recording a narration. I think I am following those directions carefully, I can see the green audio clips with waves, but when I try to play it I get NO sound. However I get sound with You tube, a CD etc.
Thanks for the follow up.
Please go to Edit Menu/Preferences/Audio Hardware and Settings. Check what is enabled under Input and Output.
Do the enabled choices represent you microphone and speakers respectively?