When you create a new task using Task Scheduler in Windows XP, error 0×80070005: Access is denied may occur when you click the Finish button. The detailed error message is given below.
The specific error is:
0×80070005: Access is denied.
Try using the Task page Browse button to locate the application.

This happens if the user account under which the task is scheduled to run, has a blank password. To resolve the problem, create a password for the user account which is used to run the task. Follow these steps:
1. Click Start, Control Panel, and double-click User Accounts.
2. Click the user account you want to add a password to, and then click Create a Password.
3. Type the new password and password hint (optional), and click Create Password.
4. Log off and then log on again.
5. Open Task Scheduler to reconfigure the task, and provide the user name and password when prompted.
Editor’s note: When there is only one user account in the system and if it has a blank password assigned, Windows will logon to the user account automatically at startup. As you’ve created a new password now, Windows will stop at the Welcome Screen at and requires you to type the password to login. To automatically logon to your user account at startup, see article Configure Windows XP to Automatically Login for more instructions. It works by storing the credentials in a protected area in the registry.
If the problem persists, see Microsoft KB 904423 to acquire a hotfix to resolve the error. To apply this hotfix, you must have Windows XP Service Pack 1 (SP1) or Windows XP Service Pack 2 (SP2) installed on the computer.
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@Greg: This only works for Win XP Prof, in Home Edition the “Local Security Policy” is not available. If you are home edition user, you have to change this value from 1 to 0 directly in the registry (Start -> Run -> regedit -> Enter):
HKEY_LOCAL_MACHINE\SYSTEM\ControlSet001\Control\Lsa\LimitBlankPasswordUse=0
and
HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Control\Lsa\LimitBlankPasswordUse=0
The easiest Answer to my query! Very good advice – didnt realise I just had to add my windows password! Super advice – Thanks
thanks , i didnt set a password at Administrator account and i cant set a task , after i added a password its work .