yes, and in addition to what Dave stated, the outputs from a cassette 'deck is normally (unbalanced -10dB) line-level, via RCA (phono) connectors. Many laptop's integrated soundcard do not have line level, in that case, attenuation would be needed, or better yet, a good quality external soundcard.
If you are in fact dealing with line-level inputs already, and the level is still to hot, you need to turn down the source (deck) or via the sound card's internal settings. Normally found in 'Control panel> Sound> Recording'
PS- Audio issues may be better off posted on the "Vegas Pro- Audio" forum. http://www.sonycreativesoftware.com/forums/ShowTopics.asp?ForumID=19

Also note that most mic inputs are mono, so even with attenuation you won't get a stereo recording.

Sometimes the volume of the source has to be turned down. I had an event recently where i wanted to go with minimal equipment so i connected my M-Audio Transit directly to the "tape record out" on the PA amp. I saw the signal was peaking so i turned the Transit's volume control down from 100 to 60. The signal was still distorted with all the peaks cut off flat, just at -7dB instead of at 0dB. The output from the amp was overloading the Transit's A->D converters. So next time i do this i'll have to bring a little mixer along anyway so that i can lower the output from the amp before it gets into the computer's input.

If you are prepared to invest in a usb audio interface, such as the ION U RECORD that I use, you should easily overcome the problem you refer to in your posting. I am in the UK but this and similar devices are available worldwide. This cost me just under £30 and, as is normal in the UK, that is probably much higher a price than you will pay elsewhere, particularly in the USA.

I have had my 'box' for a couple of years and used for sucessfuly transferring both tape cassettes and vynil recordings to my computer with no problem. It does require some initial set-up to find the best setting, though that is very easy.

BRC

Build an attenuator yourself:
http://www.epanorama.net/circuits/line_to_mic.html

Or buy one from B&H:
http://www.bhphotovideo.com/bnh/controller/home?O=&sku=746639&Q=&is=REG&A=details

The build your own is a good idea, if confident enough in doing that.

However if the option is to purchase a ready made device/option I would still suggest the ION U RECORD - I notice B&H sell this at $39.91 against $26.95 for the cable solution. The ION (or any like device) has a greater versatility in having phono inputs and usb output - of course it is not clear from the original posting as to what the outputs are available from the casette device.

BRC

P.S. I have no connection with ION or indeed any other commercial organisation, though am very pleased with the device I purchased.

Use a proper sound interface box (usually audio in - USB out). Use its supplied mixer software to select the correct input level - in your case, thats LINE, not MIC.
Select your audio interface in Vegas as the default recording device.
Record. Keep record levels away from peaking ( -3 at most).
When completed, you may then want to correct track levels to just below 0 dB without any peaking. Fine tune or normalise to -1.

When done, chop up your tracks manually if you wish.
Render as Wavs 44.1 khz, 16 bit, interleaved stereo. Write these to a CD making the audio disk, and written using an audio disk format.

Paul

I routinely have a little cast aluminium box with 2 phono jack inputs, 2 phono jack outputs, and a 10K dual potentiometer inside, to easily control over-zealous line levels.

geoff