by RoJeC on 11 Dec 2014, 21:02
Both are on the audio tab of preferences.
Latency and buffersize are "the same".
in the list you have the drivers of the soundcards; often just referred to as soundcard.
External soundcards of some quality usually are class compliant, which means the driver is installed upon connecting.
If you don't have an asio driver you should install the asio4all driver from asio4all.com. This driver will help in getting low latency, which translates in high responsiveness to your actions.
You also can use this to combine soundcards in one virtual soundcard.
If you have more questions, please also provide some info on your wanted setup. This would make it easier to give info for your situation.