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No. 3031
If you'd used a sound card back in the 1990s, it would make a little more sense.
The old sound cards had several sound generating devices on them. They'd have a digital-to-analog converter (DAC) for playing sounds like .wav files, a hardware MIDI synthesizer, maybe a FM synthesizer, input from the CDROM drive (via a small wire), microphone input, line input.
Main Volume is total output after everything is mixed together. Wave volume is just the DAC.
Pretty much all new soundcards or motherboard sound chips only have a DAC chip, responsible for all the sound output. The other sound sources have fallen out of favor, or are now emulated by the CPU (i.e. MIDI synth, FM)
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