Maybe the machine will start in Safe Mode, allowing you to do some cleanup. That's the first thing to try.
- Boot from the Windows XP CD into the recovery console and see. Some knowledge of command prompt commands (like in the old MS-DOS days) comes in very handy.
- Or get the disk out, mount it in an external enclosure and look at it from another PC.
Of course, it could be something else. It might help if you gave us the full litteral exact text of the message, without any typos (carefully check words like "initialize" please) and tell more details of what happens (like exactly when the message comes).
My windows XP won't even start now, only poped out the error messenge "the virtual memory is too low", "... file failed to initilize..." how should I fix this problem then?