Saw your post over at
Headphones are working, so that seems like the audio driver is working.
Speakers are not working, maybe a hardware issue. You could try to uninstall and re-install the audio driver just incase. I would get the one from Toshiba directly.
Two other things folks have reported that restored sound on their Toshiba laptops:
Unplug everything that is connected to the Laptop
Then Turn OFF the system
When turned off completely remove the battery
After the battery is removed hold down the power button for at least 30 seconds.
After 30 seconds insert the battery
Restart the system
An other thing is go to sound control panel and raise the volume on the speakers to max and then min, repeat this 5 times.