After installing my multimaximizer L3-16 in Cubase I experience sound clipping

The elicenser software installed by the product software may not not support your operating system, so the first thing to try is to update the elicenser software. Its available here:
Home elicenser net

Make sure the switch is set to "mic/line" and not "guitar"
Your input level will be set by the "input L" or "input R" knob, depending on which side you are using. Start with them all the way down and then sing into the mic, turning them up until you get a signal about halfway up the bar in Cubase. That should give you plenty of headroom for clean vocals.
It may be difficult to get a good sound if you have one of those cheap mics that has a "1/4" jack instead of a 3-pin XLR jack. You might want to go to your local music/pro audio store and invest in a "condenser" microphone, which is good for vocals in the studio.

cubase le is a learning series. you can try in cubase sx or nuendo for good result.

Check your coumputer volume

Takes a while to get used to with alot of experimenting etc

install the sound driver...from the motherboard CD..

vb-1 is a cubase virtual instrument this is where cubase was stalling, When i uninstalled cubase i went into the vst plugin folder and saw the folder vb-1 [virtual bass] I read the text file within and it told me to copy the dll files within into the active vst plugin folder. when i re installed cubase all was well. I have been using cubase for years and did not have this problem until i installed the e-mu 0404 pci card, or the audigy card

Some (very) basics with any live audio recording:

• Have a very very quiet space in which to record, with good acoustics (this means a room that will give a flat sound, preferably one with carpeted walls and celings, but any small, well-furnitured room should do).
• Do not mix with the interface. Simply put the gain as high as possible without clipping and mix later in your recording program (Cubase, in your case). You can always bring the level down, but trying to gain an already recorded track will introduce noise.
• If you are recording vocals, use a pop filter. When recording anything, experiment with different mic positions to attain the best possible, clean sound.

I chased this same problem with a friend's laptop using Cubase. Additionally, he had several recurring pops at high end, in regular intervals, with 23 seconds of trouble free gaps in between incidents. Eliminated hardware problems, so I contacted some Cubase user groups and they indicated their older software was not compliant with the newest hardware... in other words, they suggested he buy a newer version.... He did (gasp, sticker shock... the horror) and the problem disappeared. Might be all that is wrong for yours, if your desktop has newer hardware and older version of Cubase.