Okay guys sorry for this but I'm new to recording, i bought outlast yesterday and my mate says i should record it, so i downloaded FRAPS and bandicam but i cant figure out how to make it so that I can hear game audio and my mic audio (I'm using turtle beach x12s for this) can someone please show me the correct settings for this, i also want my voice to be louder than the game.

Instead of "Stereo Mix" select Win7 Sound WASAPI.
Check if this combo works. As in capture the game for 10 seconds while talking into the mic.
Now if you want to have your voice louder then you can make the mic louder through the settings button.
Or you can simply make the game more silent. Simply click on your Speakers icon in the tray (near time), click mixer on it and change the slider of the game (While it's still opened).

A trick I use is to Save audio tracks while recording and untick "Two Sound Mixing". That way, it saves two wav files, one of your mic and the other of your computer audio (as well as two different tracks/four channels in your video file). Then, I just use a video editor and adjust the game volume down or mic volume up.

Depending on the codec, some video editors don't like to use the audio files straight from the video file (such as, the MP3 setting on Sony Movie Studio). But, at the very least, the two separate wav files make a good back up.

If you want a cheap and easy way to edit video, VideoPad by NCH is alright for the price. Just, careful about getting too crazy with editing. I found it really hogged up my CPU just by splitting and clipping out pieces of the video.