New to vinyl question

If you had complained about any record but Hendrix I would dig into set-up issues like has been suggested. But Cream and Hendrix were often distorted before ever going onto tape. Also, LPs have dynamic range issues the lower you go and the cutting engineer had to monitor that carefully when passages got really loud. If you look at a record, the wider grooves are loud passages. Dont throw all LPs out because of this. One other caveat, Before you buy new records of old recordings, ask yourself what they are mastered from. Remember Sony lost a huge number of master tapes for the whole industry in a storage fire a few years ago and a lot of new stuff is being mastered from anything they could find, which sometimes is the CD.

Lots of terrible advice here ^^^!!
 

Distortion in the bass is not from mistracking, and an expensive LC or Shibata or MR isn’t going to fix it. The Blue elliptical tip is fine!

And other records sound fine. A tiny bit of off-alignment won’t cause these issues, either. 
 

Sounds like clipping? Maybe your phono preamp really IS clipping. 
 

Just take care of your basics first! Proper record cleaning. Proper VTF. Proper antiskate setting. 

Sounds like it may be "Acoustic Feedback". Isolate the TT from the speakers. Do not have them on the same shelf (table, bench...)  or, do not have the sound from the speaker aimed directly at the TT. Put your TT on a separate platform, shelf or stand than the speakers.

The heavy bass of Hendrix (et al...) is more prone to exciting the area around the TT and creating an acoustic feedback loop, more so than jazz or folk (which typically has less heavy bottom end energy)

Not all records are well engineered, cut and pressed.

Fresh Cream is simply awful.  My copy bought on the day of release is very badly distorted right across the frequency spectrum.  Pity, as it's great music.

I never was a Hendrix fan and don't have any of his recordings.  But I recollect when listening in period the sound was nastily distorted.

If you want well recorded rock music get some early Stones originals, recorded by Decca in the mid-60s when Decca and EMI still cared about SQ.  No problems there.

Get a copy of Little Feat The Last Record Album and play “Long Distance Love”. To assess bass tracking. It has a very strong bass line that should sound undistorted, unlike Cream albums, which while great music, were poorly recorded. And I’m going to stick up for Jimi Hendrix’ records…starting with Axis, they were excellent!  Rainbow Bridge is a great example. 
TBH, your problem sounds most like your VTF is too low, or you have a wad of accumulated dust interfering with groove contact, as JB opined up top. Keep it clean!