The following setting options are available on the Directories tab:     
Input field
Temporary directory
Defines the folder in which temporary files are stored. The folder should be located on a drive with plenty of storage space. 
Input field
Peak File Directory
Specifies the folder where peak files are stored. Peak files are cache files that Nero WaveEditor uses to open audio files more quickly. The folder should be located on a drive with ample storage space. 
Check box
Always recreate peak files
Always creates a new peak file when an audio file is opened. Otherwise, the peak files are stored temporarily in a directory and are called up again there.
Input field
My Music Directory
Specifies the default folder where files are stored.
Check box
Always start file open dialog in My Music directory
When calling the Open window, the system will always first show the folder that is specified in the My Music direcory text box.
Opens a window where the folder can be selected for the respective files.

Directories Tab