How do I fix the problem 'disk is too slow' and what does it mean anyway?

I'm transferring casete tapes to the Mac via the input line. I've transferrred nearly 100 with no prouble, but sudddenly today two things have gone wrong (see separate question for the other one). This one is that suddenly the error message 'Disk is too slow' comes up. also the track (the top one, not the bottom edit section one) is bright red instead ofthe usual dark purple.
What's gone wrong and how do I fixit?

Sorry about the lack of terms: lazy of me I admit. Having read up Garageband Help, I think I've got the answers. Yes, by the top part I mean the track in the timeline. The bottom part is the same track showing up in what is headed the 'Audio Region' The bright red is the colour the track is in the timeline during recording, and it stays like that until after stopping recording I click somewhere in the timeline section (not necessarily on the track itself) at which time it just goes the normal kind of dull greyish colour an unselected region does.
Thanks for telling me how to see the HD info. Its 250GB, of which I've used about 23GB. The first computer I worked on as a programmer back in 1962 had a 400KB drum (the first disks didn't arrive until 1963) as its random access backing store - and yes, that is a K. The machine also came with 12KB of RAM and 4 tape decks, was the size of a hotel kitchen, and cost about $200,000. You young people don't know how lucky you are

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