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No. 1683
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Compression is oft misunderstood. Compressors narrow the dynamic range of the audiosource, both lowering the volume of the "peaks" and raising the volume of the "troughs". Compressors are typically used on individual tracks, whereas a limiter is usually applied to the master track, or during the mastering phase of recording. Limiters simply stop the audio from exceeding a specified level, and are used to make the overall track as loud as possible. While you'd do well to familiarize yourself with compression early on, don't worry about limiters until you're going to release a polished, finished product.
The advice to not let the levels enter the red is important, not because it will "blow out your speakers", but because it will cause clipping. It's good practice to mix with the levels very low, and then bring everything up during the final mixdown.
I don't really know what the best websites would be to recommend to you, but I've spent a lot of time on soundonsound.com, they have a ton of articles. Also, while the site is kind of cheesy, tweakheadz.com would be a good place for a beginner to start, as the site has a guide that starts from the basics and explains things pretty well.
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