it's over a second? that's really out of hand.
so long as you're monitoring post-conversion, you'll get latency. how much depends on the hardware and software you're using, plug settings such as record buffer size (the bigger it is, the more latency you'll hear).
> 1 sec is really quite long. it makes me wonder if you've got a delay or reverb plug or something on, with mix @ 100%.
anyway, the way to combat latency is to grab the signal before it hits the a/d converters, with some implementation of a y-cable. some gear has extra outs, or you can half-normal a patchbay, or you can actually just use a y-cable.
but also look into why your latency is so extreme.