Taken From: http://support.microsoft.com/default.aspx?...ben-us%3b259416
SYMPTOMS
When you run Outlook using Microsoft Windows 2000 or Microsoft Windows XP and connect to your Internet Service Provider (ISP) to retrieve e-mail messages from a Post Office Protocol (POP) server, your password is not retained even though you have chosen to save your password
RESOLUTION
To save your password you must back up your registry, remove the user account information, and then re-enter your password.
WARNING: If you use Registry Editor incorrectly, you may cause serious problems that may require you to reinstall your operating system. Microsoft cannot guarantee that you can solve problems that result from using Registry Editor incorrectly. Use Registry Editor at your own risk.
See the appropriate steps for your operating system.
How to Back up the Registry
Windows 2000
Click Start, click Run, type regedt32 in the Open box, and then click OK.
Locate and click the following registry key:
HKEY_CURRENT_USER\Software\Microsoft\Protected Storage System Provider
On the Registry menu, click Save Key.
In the File name box, type a unique name for the key.
In the Save In box, click a location for the file, and then click Save.
On the Registry menu, click Exit.
Windows XP
Click Start, click Run, type regedt32 in the Open box, and then click OK.
Locate and click the following registry key:
HKEY_CURRENT_USER\Software\Microsoft\Protected Storage System Provider
On the File menu, click Export.
In the File name box, type a unique name for the key.
In the Save In box, click a location for the file, and then click Save.
On the Registry menu, click Exit.
How to Remove the User Account Information
Windows 2000
Quit all programs.
Click Start, click Run, type regedt32 in the Open box, and then click OK.
Locate and click the following registry key:
HKEY_CURRENT_USER\Software\Microsoft\Protected Storage System Provider
On the Security menu, click Permissions.
Click the registry key for the user that is currently logged on and ensure that Read and Full Control are both set to Allow.
Click the Advanced button, ensure that user that is currently logged on is selected, that "Full Control" is listed in the Permissions column, and that This Key and Subkeys is listed in the Apply to column.
Click to select the Reset permissions on all child objects and enable propagation of inheritable permissions check box.
Click Apply, and then click Yes when you receive a prompt to continue.
Click OK, and then click OK again.
Double-click the Protected Storage System Provider key to expand the key, click the user subkey folder that is directly below the Protected Storage System Provider key, click Delete on the Edit menu, and then click Yes in the warning message dialog box.
The user subkey folder looks similar to the following example:
S-1-5-21-124525095-708259637-1543119021-16701
NOTE: For every identity that you have, there may be a subkey under the Protected Storage System Provider key. To resolve this issue in all of your identities, you must delete all of the user subkey folders under the Protected Storage System Provider key.
On the Registry menu, click Exit, and then restart your computer.
Windows XP
Quit all programs.
Click Start, click Run, type regedt32 in the Open box, and then click OK.
Locate and click the following registry key:
HKEY_CURRENT_USER\Software\Microsoft\Protected Storage System Provider
On the Edit menu, click Permissions.
Click the registry key for the user that is currently logged on and ensure that Read and Full Control are both set to Allow.
Click the Advanced button, ensure that the user that is currently logged on is selected, that Full Control is listed in the Permissions column, and that This Key and Subkeys is listed in the Apply to column.
Click to select the Replace permission entries on all child objects with entries shown here that apply to child objects check box.
Click Apply, and then click Yes when you receive a prompt to continue.
Click OK, and then click OK again.
Double-click the Protected Storage System Provider key to expand the key, click the user subkey folder that is directly below the Protected Storage System Provider key, click Delete on the Edit menu, and then click Yes in the warning message dialog box.
The user subkey folder looks similar to the following example:
S-1-5-21-124525095-708259637-1543119021-16701
NOTE: For every identity that you have, there may be a subkey under the Protected Storage System Provider key. To resolve this issue in all of your identities, you must delete all of the user subkeys folders under the Protected Storage System Provider key.
On the Registry menu, click Exit, and then restart your computer