Question:I have tried to run iTunes, however an error box pops up stating something is wrong with my audio configuration and I do not know how to fix it.
Answer: Since iTunes and QuickTime are bundled together and most likely work with each other I would reinstall QuickTime. Go to add/remove programs from your Control Panel and uninstall QuickTime. Then go to the Apple site and download and reinstall it and see if that fixes it. Plus if you are using an older version of QuickTime then that may be the problem and updating will help.
You may also want to try to update your sound driver from the manufactures website. If you have recently updated it then you may want to roll back the driver to the previous version in case the newer version is causing the problem. You can do this through Device Manager.