Hi.  That is pretty horrible overload distortion!

Perhaps the first thing to check is that ALL the faders on the Mixer (shortcut M) are at 0 db, including the Master section.

If that is not the solution, is this problem present throughout the file?  If so, I would guess you have right clicked on the audio track and selected something like "Set Volume to +20 db" or one of the other "+" settings.  If so, simply choose the option to "Set Volume to +0 db" or even lower.

If the distortion is present only on a short section is this on a complete clip?  If so, the answer is as above.  (Remember to make sure the whole clip is highlighted.)

If not a complete clip, then either use the audio mixer (Shortcut M) in "Auto" mode to write a reduced fader level for the distorted section, or, with the clip highlighted, choose Volume Curve (shortcut Ctrl+Alt+V) and adjust downwards the green line that will appear on the audio graph.  With either of these latter methods, any change you make will affect only the section of the file you have chosen.

Failing all the above one would start to wonder about your Windows mixer settings, assuming you are using a built-in soundcard, but I see you say that WMP, VLC and WMM all play the file without problem, so it is very unlikely to be that.

If none of the above helps and presuming your posted clip has been exported from MEP, can you post a short portion of your original unprocessed footage somewhere for us to access?  

Please let us know how you get on resolving this, even if my suggestions ultimately prove of limited help!

Jeff