What the record label typically owns is called the “master rights.” This refers to the master copy of the recording. If you want to reproduce the contents of the master copy, you must obtain a “master use license.”
The composer of the song originally owns a collection of rights called “publishing rights.” These are typically administered by (or sold to) a music publisher. These rights include public performance rights, synchronization rights, and mechanical rights, among others. Anyone who wants to make a phonorecording of a song, whether it is an original recording or a copy of an existing recording must obtain a mechanical license.
So in order to sample a recording, you need a master use license and a mechanical license.
Actually, compulsory licensing does not exist until after an authorized commercial recording has been released. That can include your own recording. So don’t worry, if you write a song and want to be sure that no one records it, you can do that. But once you let some one do it, you open it up to everyone. (This is US law which may or may not be the same as the law elsewhere.)