Safe Mode Will Not Load.

I don't know why but safe mode won't load. It shows a bunch of .sys files but it will not get past this screen. I am trying to access safe mode because I have an error at the Welcome Screen:
User Environment
Windows cannot load the locally stored profile. Possible causes of this error include insufficient security rights or a corrupt local profile. If this problem persists, contact your network administrator.

DETAIL – An I/O operation initiated by the registry failed unrecoverably. The registry could not read in, or write out, or flush, one of the files that contain the system’s image of the registry.

If it helps or not, I don't have my Windows XP CD.