- Uninstall and reinstall XNA Framework 4.0 and .Net
- Verify Integrity of game cache.
- Uninstall and reinstalled the game.
- Disable the Sound icons on Control Panel.
- Run Reginout Scan.
- Update windows fully.
- Run Steam as an administrator.
- Uninstall Xna and .Net and let Terraria re-install them.
Hope I helped.