can i run 2 separate firefox browsers on one pc

is it possible to have 2 separate mozilla firefox's running on my computer, like say one that i use with all my bookmarks and extensions and then another separate firefox that anyone else in the family can use with its own bookmarks and extensions.
i taught i read somewhere that you can install firefox to a new directory but i tried that and it was the same as the one in the normal firefox folder when i changed something in one it changed it in the folder too.
i have win xp pro xp2 768 ram pIII

any help would be greatly appreciated.
thanks in advance
jim

ps. I posted this on another site and got this reply but as i use hidefolders to lock the firefox folder when I'm away it does not work.
i tried to install firefox to another dir in program files and make a new folder for the profile but it still wont run if i block the original firefox folder.
any ideas???


“ There is no need to install multiple versions of Firefox, what you need to do is create multiple profiles. Firefox stores user data such as extensions & bookmarks in profiles.

Create a new profile - http://the-edmeister.home.comcast.net/advice-html/advice-create_a_new_profile.html

You can then create shortcuts that point to specific profiles. In the shortcut that you use to open Firefox, change the "Target" to something like:
"C:\Program Files\Mozilla Firefox\firefox.exe" -p "profile name"
replacing "Profile name" with the name of the profile you created above.

Using the above method only 1 profile can be run at a time, if you are using Firefox 2 you can change the above to allow multiple profiles to be run simultaneously:
"C:\Program Files\Mozilla Firefox\firefox.exe" -no-remote -p "profile name" “