PyAudio Input overflowed

pyaudio.Stream.read() has a keyword parameter exception_on_overflow, set this to False.

For your sample code that would look like:

import pyaudio
import wave
import sys

chunk = 1024
FORMAT = pyaudio.paInt16
CHANNELS = 1
RATE = 44100
RECORD_SECONDS = 5
WAVE_OUTPUT_FILENAME = "output.wav"

p = pyaudio.PyAudio()

stream = p.open(format = FORMAT,
                channels = CHANNELS,
                rate = RATE,
                input = True,
                frames_per_buffer = chunk)

print "* recording"
all = []
for i in range(0, RATE / chunk * RECORD_SECONDS):
    data = stream.read(chunk, exception_on_overflow = False)
    all.append(data)
print "* done recording"

stream.close()
p.terminate()

See the PyAudio documentation for more details.