No. Given physical access to the machines, I can boot up a KNOPPIX CD and do whatever I want on Windows 98 or any other Windows OS.
What you can do is to setup the domain server and the login script sets it all proper on logon.
There are packages that do this for you, but you didn't say you would pay for such.
The school were I work as a network and in a while is going to install a server with Windows 2000 server. The network is operating on Win98. The computers are IBM-300 PIII(128 Kb Memory, 10 Gb Hd)
The problem is that each student changes the screen configuration (screen saver, background, etc) or puts graffitti on them. Wonder is there a way to stop the vandalism or denie acccess to certain programs, keep a record of user-PC relation. Any help is appreciate.