Gonzo has published a very relevant post on his blog about avoiding clipping when transferring audio to digital. In fact, his remarks are also relevant for any form of recording be it to digital or audio from any audio source. Transfer from LP to cassette can also encounter the same problem. When recording or transferring audio, please ensure that the recording level indicator ALWAYS stays below the red level. Some of the older LPs also have tracks recorded at various levels and I usually sample the whole side first to ensure that clipping does not occur.
Read Gonzo's article here