Annoying crunching sound

I just started playing 4Story and noticed that when I have my sound effects on there's a loud crunch noise that repeats when I move. No matter how low I put the sound effects volume it is still just as loud. I tried lowering the overall volume as well and it didn't turn that specific sound down either. All the rest of my sounds (combat etc) are fine, they go up and down with the volume slider. Is there a way to fix this? The only way it stops is to turn sound off completely.

I'm on a Toshiba Satellite P305-S8825 laptop with Windows Vista, Intel Core2 Duo cpu and Conexant High Definition SmartAudio 221 with up-to-date drivers.