A sound card has input channels and output channels.
Master: controls the volume of the master output channel.
PCM (Pulse-Code Modulation) : controls the volume of the analog/digital signal conversion.
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Front : controls the volume of the output channel.
Mic : controls the volume of the microphone.
Mic boost : I don't have that one. It may be a feature of your sound card allowing an increase of the sound volume of a recording.
Capture : controls the volume of the input channel.
NB : From a basic user perspective, Master, Front and PCM are equivalent to "volume control".