After installation of slackware all sound volume is set to 0. You get a warning to remind you of this when linux boots.
One way to fix this is to run alsamixer, raise volumes and then run (as root) alsactl store.
This is a pain to do if you have a card like Soundblaster Live because it has so many channels (or whatever they are called).
An easier way to get your sound working follows:
alsaconf # will detect your card and raise the volumesNote that if you have a Soundblaster Live (and probably any other 4.1/5.1 card) 'Master' and 'PCM' volumes control only the front speakers while 'Wave Sur' controls the rear speakers.
alsactl store # will save the mixer volumes so a reboot does not reset them