In my opinion hardware should be designed so that the camera LED lamp should always be lit if the camera is used. If there is a malfunction with the LED, then the camera should also not work. Also there should be a hardware LED for when the microphone is being used which should work in the same fashion for laptops with built-in microphones.
In the webcam drivers I have looked at the LED is controlled independently of capturing, although drivers do enable the LED when the camera is used. This essentially means that hackers can record and disable the lamp.
I've been considering hacking together some piece of software that will continuously use the camera (/dev/video) in order to block it for other applications, and have it fail with visible alerts if unable to block the camera. Not sure if the same thing can be achieved for the audio recording devices due to multiplexing.