Need a clearer picture of how you have this set up. If you output from your controller back into the PC you’re working on then you should get a decent recording, but no monitoring. If you split that output first so that it also goes to your speakers then you are going to have problems because you’ve halved the signal level, at best.
You could use a hi-fi amp to keep the lines at the correct levels, putting the controller into the CD/Aux input and then taking the Tape Out to your PC for recording. Then you can also use that amp to drive your monitors.
If you don’t have that kind of kit around then I’d say the £75 for the full version of Serato would be money well spent for less hassle if you’re serious about wanting to record your work.