Windows 7 Quickly change sound

#1
Is there a way for me to change my sound settings to a preset setting by just pressing a button. For example, I like to play music through my microphone, and I do this by listening to my microphone than disabling it. But to actually use my microphone I would have to disable these changes manually and it is rather time consuming. Is there anyway within windows to assign a button to change between the two settings, or is there any program which can do this.
 


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