By making your computer faster!
Try using a light window manager (i.e. not Gnome or KDE) for recording. Try something like Fluxbox, IceWM or just TWM.
Make sure that your hard drive has DMA enabled. Searching the forums for information on how to check that and enable it if necessary.
Use a command line recording program like sox or arecord. This will work the best if X isn't running.
http://www.linuxdj.com/audio/quality/
Buy more RAM.
Investigate JACK and the real-time patch that can be applied to the kernel and also other recording software like agnula.
Daniel