Several contacts found for one number
If there are several contacts with the same (or similar) number you can select the correct contact.
Incoming calls

If there are several contacts for one number saved in ACT! you can select one of the contacts by clicking on
to see a drop down with all available contacts. After you select a specific contact the contact detail will show up in ACT! (only if you set this option in the configuration!).
Outgoing calls

If you dial by hand a number which is saved for several contacts you see a popup where all matching contacts are pre-selected.
If you want to create a history only for one contact you can remove the other contact(s).
If you let all pre-defined contacts in there the history will be saved for all shown contacts.