could be the SAM file is corrupted or modified. it could be regristry...the registry has been locked... if indeed your registry is locked, then you choose to run a repair on your system using your original installation cd [repair of installation] the problem will still remain, coz the system will use same set of policy and settings... if you reinstaller you OS your documents folders could become inaccessible if it set to private..
where are your important files located, is it in your "my documents" folder?
is it set to private? coz if it is located in the "my documents" folder you'll get an error if you try to extract files or copy files from it...
*try to boot in safe mode..
*try administrator account, at the login type "administrator" as user, no password
this could work but in most case that i have seen, it does not, but its worth a try
coz different configuration, different degree of infection.