This likely indicates a bug in your operating system. Assuming you've got a Windows computer, manually go to Windows Update and ensure you have even the non-critical updates for your system.
If that doesn't do it, please tell us your computer's specs: What OS are you using, how much RAM do you have and how much free, clean, defragmented space is on your C drive? When did you last run Disk Cleanup on your drive and defrag it?
My laptop is up to date when I checked Windows Update. The 32-bit operating system I have is Windows Vista Home Premium with the Service Pack 2. The amount of RAM is 3GB and I have 24GB of 136GB free on my C drive. I just ran a Disk Cleanup and defrag today.
If you are storing your project files and your media files as well as your operating system and your program files on your computer's C drive, 24 gig may not be enough free space for your computer to operate such an intensive program stably.
Try clearing another 10 gigs of space and defragment and you should see better performance. (BEST performance would be available if you moved your project and media files to a second hard drive.)
Well, I've always had everything stored together like that. If I were to
clear up space would that make Adobe Premiere Elements allow me to change
the ASIO settings without closing out?
If you've done everything I've suggested, it should.
I figured it out. Through tampering with it and for future reference for
anyone who has this problem. My laptop has 3 sound options: HDMI Device
(Intel High Definition Audio HDMI), Speakers/Headphones (SigmaTel High
Definition Audio CODEC), and Digital Output Device (SPDIF Out).
By disabling the Digital Output Device, the sound returned to my laptop to
where I could edit in Premiere and hear it through either my laptop
speakers or my HDMI option.