microsoft.public.windowsxp.security_admin

My wife and I have been using the default Administrator account, without a
password, for years. I've been advised to create a "user account," and only
log on as administrator to do weekly maintenance chores.
If I were to create a user account and call it "Family," would it have a
blank desktop? Would we be able to download music files? Access all of our
existing files?
Use Outlook Express to send and recieve e-mail? Access the Internet--and
save Favorites?
I'm unsure of how to proceed. Place a password on the Administrator account?
Ditto on any new user accounts created?
What about the default Guest account? My stepson visits several times a year
and uses the computer for many hours. If he were to use the Guest account,
would he be able to recieve and send documents as e-mail attachements. Save
documents to the hard drive? Access the Internet?
My wife sometimes lets her students use the computer. How would I go about
"restricting" access to Internet sites for them, but not for us?