This sounds like one or more of the Realtek device drivers has become corrupted.
I would first open the Realtek Sound Manager from the Control Panel Applet and then check the Sound Chipset Model and note this version.
Then go to
Realtek's website to download the correct driver type, it's either the older AC97 or the newer HD Audio CODEC.
When you find the correct type for your chipset then download and run the installer.
This should require you to reboot the machine and then after the desktop comes back, try it out and see if this resolves the matter
