How To Create A New Audio File in Adobe Audition
(Settings I use for each new podcast episode recording)

Here are the settings I use to record each new episode of my podcast, Mike Murphy Unplugged.

Steps:
Preferences>Audio Hardware (Select Input & Output)
File>New Audio File
Settings I use:
44100
Mono
32-bit Float

For levels meter: Option + i
To Record: Shift + Spacebar
To Stop Record: Spacebar
To Playback Recording: Spacebar
For the Mike Russell video on 32bit float:

(this is on the Mike Russell┬áVIP channel, which I highly recommend as it’s only $1.50/month and Mike is an awesome teacher if you are looking to get better at audio.)