If a Restore Point is being created every day, then that points to something like some updating service creating them before an update, or possibly something like a malware scanner creating a restore point when it scans and finds any malware. Windows Defender can do this.
Removing individual restore points is tricky. Your choice is either;
1] Remove all but the latest restore point, or
2] Remove all restore points, (then create your own restore point afterwards).
Remove all but the latest restore point.
XP has a utility called Disk Cleanup, (Start > All programs > Accessories > System tools > Disk Cleanup). Open that. If you have more than one hard drive, select the C drive. The utility will check for compressed files, which may take a few minutes. When done, it will present a list of all temporary files that can be deleted. There is another tab, More Options, so click that, and you will see the option to "Remove all but the latest Restore point". Select that, then continue.
Remove all restore points
Right click your My Computer icon and select Properties. In the new window, select the System Restore tab then select the "Turn off System Restore" option. Click OK and respond to any prompts. That deletes all System Restore Points. As soon as that is done, de-select that "Turn off System Restore", and click OK.
Then create your own System Restore Point the way you normally do it.
Yes, they do take a lot of hard disk space.
I create a new Restore Point each month as I start my monthly maintenance sequence and also SpyBot seems to create one. I see by the Restore Point calendar that there seems to be a Restore Point for each day in October. I'm curious as to what process is creating these Restore Points but mainly I'm wondering how to delete some (most) of them. Aren't they consuming a humongous ammount of disk space?