I was recently forced (in order to get a month of unlimited dial-up!) to use AOL (Version 8). No matter what I tried I couldn't disable the modem speaker. Thanks to hours of searching on Google I finally found the solution on this
page (although it appears offline now). So, to disable the speaker start up AOL but don't Sign In. Instead go to
Setup then
Expert Setup then
Devices (modems, etc.) select your modem and then click
Edit and on the final page you will see an option to adjust the speaker volume. Job done :)