Log into Windows XP as an Administrator

Click Start -> Control Panel -> User Accounts, then click on Guest Account and make sure it is turned on

Now Click Start -> Run, type cmd in the entry box, and click Ok

At the command prompt, type Net user guest password and press Enter - Gives Guest Acct password option.

Again, Click Start -> Control Panel -> User Accounts, then click on Guest Account
Notice that you can now set a password on the Guest Account. Set a Password and restart your Computer

 

Also to Hide the Shared Drive from the network:

Hiding a resource you want to share is easy. You simply append a dollar sign ($) to the resource’s share name. When you do, the shared resource won’t appear on the network. Furthermore, any access restrictions or passwords assigned to that shared resource remain in effect.

So now to access the share you type in:    \\ipaddress\sharename$