I'm not completely positive what you mean by "using the speakers as the sound recorder", but if you do a screen capturing session of streaming video, e.g. YouTube, and you want also capture the sound that goes with it, you will need to make sure to configure your sound card mixer to record from the "Stereo Mix", which is basically a stereo sum of all the sounds passing through the system, including the ones being replayed by applications. Under Windows XP, this should be pretty straightforward. Under Windows Vista, some people seem to be struggling unlocking the possibility to record the stereo mix in the first place, so I decided to include some instructions below, just in case you're running on Vista.
In order to successfully record from the Stereo Mix (e.g. to capture online radio streams), the Windows/sound card mixer will have to be configured correctly to enable Cleaning Lab to record the right source. In Windows Vista, Stereo Mix recording is selected by default if you do not have anything plugged into your sound card (microphone or line in). If this doesn't appear to be the case on your system, in order to adjust the mixer properly, go into your Control Panel and select "Sound". In the "Sound" dialog, select the "Recording" tab. Right-click into the list of visible icons/recording sources and pick the option to display potentially hidden/disabled sources. Then, the "Stereo Mix" option (depends on what your sound driver calls this option) will appear in the list, but will still be displayed as disabled. Right-click on it and select "Enable". Done. Now you should be able to pick up the sound from streaming video when doing YouTube captures.