If your box was 98 upgraded to XP, I can see how you would end up with driver issues. That is very common.
A "reload" is generally known to be a FULL reload, which means repartition and format. Meaning you loose ALL data and files and EVERYTHING! So you need to back up your data first, to CDs or elsewhere.
There is also a "repair" install of XP, which does NOT delete your files or data, but rebuilds Windows itself, normally without hurting any programs installed. This would not guarantee that your problems are fixed however.
You could also try this little trick, it would be pretty simple. Turn off your PC and open the case. Unplug and remove the sound card. Turn the PC back on and let it go fully into Windows. Then uninstall and remove anything doing with the sound card software again. In Device Manager you may have to show hidden devices to delete the hardware. Or delete the hardware before unplugging it.
Next turn the PC back off again and plug the sound card back in to a different slot. And turn the PC on. If possible, load the new driver you must have downloaded at some point. Or if XP loads it automatically, maybe it will work.
Of course, none of that applies if you have onboard sound and can't unplug the card.