I got this problem a lot when I was shutting down some memory eating processes. Sometimes I couldn’t play mp3’s anymore, while system sound kept playing. Mediamonkey just skipped all songs and Winamp threw an error at me: “No sound devices found. Please buy a soundcard first” (how silly) and “A device ID has been used that is out of range for your system.”. Via control panel and sounds and audio devices I found that the audio device was not found “no audio device”. I dug up this small tip, which worked for me!
Go to Start / control Panel /Administrative Tools / Component Services
This will pull up a separate window, on the left click services (local) from the tree. Go down to the windows audio service. If the service is on disabled or manual; right click and select properties under “startup type” change to “automatic“- click apply. click “start”. Reboot!