There are many factor that can contribute to errors when burning CDs or DVDs. First you want to check the media (the CD itself) and make sure it is free from dirt, scratches or fingerprints. Make sure the disc is blank and writeable. If you're getting buffer underun errors then close all programs except Windows Media Player and try again.
Try a different program to see if the problem is with Windows Media or the burner. If it fails, reinstall the drivers. If it works, then reinstall Windows Media.
Try the built-in Windows troubleshooter (under help or support). Sometimes, a firewall or other security software is the obstacle. Also, internet forums/blogs have info from people with the same problem.
Ensure that the recordable drive is connected and a recordable CD is in drive. Quit all other programs using the drive if any. Also make sure that you are able to burn a data disc. You should enough storage space in your hard drive as windows media creates a temporary file in the hard drive before burning.
Windows media player supports CD burning but it is not much efficient and advisory to use it. It is much better to use other burning softwares available.
I would start buy downloading another program, like roxio or something of that nature and using it instead of window media just because it is such a bad program to use.