If you look into the Jack where your headphones or external speakers plug in, do you see a RED Light?
Try a minute tinkle of WD-40 onto the headphone jack and then insert and pullout the jack several times, followed by gently inserting and removing the audio input jack a few times. At least until the sound is returned to normal and red light ceases to glow from the audio output jack.
I believe this is a "mechanical issue, not a software one".
Did you recently install something?