SoundVolumeView is a tiny portable tool which displays the current volume levels for all the active audio components on your system, and allow you to mute or unmute them instantly.
It's also possible to save your current volume settings as a "profile". Reloading this later will instantly restore the same volume settings.
The interface for all this is extremely basic. There's no audio meter, no slider, no colourful graphics - it's just the usual NirSoft table, crammed with data.
But, if you're happy to use the program's command line interface, there are some usual features here.
Create a shortcut to run it like this, for example:
SoundVolumeView.exe /SaveProfile test.vol
...And it'll instantly save all your current volume settings in a file called test.vol.
Now create a second shortcut with this:
SoundVolumeView.exe /LoadProfile test.vol
...And it'll restore all your previous volume settings on demand.
Added 'Selected Channel' option (Under the Options menu). If you want to change the volume of specific channel, you can choose the desired channel from this menu, and then use the Increase/Decrease 1%/5%/10% options (under the Volume menu) or the mouse wheel to change the volume of the selected channel.