I had a similar problem. If it's a web based application, LoadRunner should launch its own IE window for recording. It won't record anything if this doesn't happen since it ignores all other windows. Try this to resolve the issue:
Open your Windows Control Panel >> System Properties >> Advanced tab.
Click the "Settings" button in the 'Performance' section and click the "Data Execution Prevention" tab.
Select 'Turn on DEP for all ... except those I select' and make sure that your browsers application is included in the list (in my case, Internet Explorer).
Shut down Load Runner and restart it, and good luck.
Bill
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