You can get DSL and install it to the hard drive. Be sure to print the instructions.
Puppy Linux- there's another name but I forgot it- is a good one to use with limited memory.

DEbian can be configured to work with this limited memory.

You'll be using the dillo browser, the instant messenger may be text based, printing will have to be remote.

There are thin clients available for limited memory boxes. This computer could be used to access the internet and services from another box in your home or office- wherever it is you have this old machine.


Minix3 should work with your computer. It will take up 4G of space maximum.

An older release of m0n0wall could be installed and your box used as a firewall/ router.

Plan9- developed from UNIX- will also work with the limited memory. It's going to be a full time job if you choose this option.
Go with the DSL or Puppy for now.

There are older distos available at http://www.linux.org be sure to check the availability of each. Pages are not always renewed or information updated. ibiblio is also a good place to look. Every Linux distribution will tell you the system requirements to run it.