It could be faulty RAM or a damaged pagefile see click here
It may be necessary for you to format the hard disk if it’s a damaged file but I don’t think the recovery disk gives you that option so it will be necessary to download the XP set-up floppy disks from click here
Run set-up from the floppies and you should then be able to get to the format command.
I’ve not done this myself so would suggest searching the forum for ‘format’ AND ‘recovery’ and read through the various threads on the subject before going through the drastic step of formatting.
The links above came from posts by GANDALF <|:-)> and AndySD.