As I said above System32 folder is in %windrive%\windows folder.
Where %windrive% is the hard disk partition drive where you have installed the Windows XP
This folder contains some important files; let’s know them one by one.


fsmgmt.msc- Displays shared folders, current sessions, and open files.
 fsquirt.exe-Bluetooth file transfer wizard
 gpedit.msc-Group Policy
 hdwwiz.cpl-Add new Hardware Wizard
 iexpress.exe-Creates a self extracting or Self installing package
 inetcpl.cpl-Internet Options… (Internet Properties)
 joy.cpl-Add Or Remove joysticks
 magnify.exe-Magnifier
 main.cpl-Mouse Properties,Change mouse settings.
 mplay32.exe-Windows Media Player 5.1
 mshearts.exe- Hearts Game
 mspaint.exe-Microsoft Paint
 narrator.exe-Narrator
 ncpa.cpl-Network Connections
 netsetup.cpl-Network Setup Wizard
 notepad.exe-Notepad
 ntbackup.exe-Backup or Restore Wizard
 ntmsmgr.msc- Catalogs removable media and manages automated libraries
 nusrmgr.cpl-User Accounts
 osk.exe-On screen Keyboard ( you can use it if your keyboard is not working)
 packager.exe-Object packager
 perfmon.exe-Performance monitor
 regsvr32.exe-Register or Unregister files like dll files etc.
 rtcshare.exe-Used for sharing between two or more PCs
 secpol.msc-Security Policy
 services.msc- Starts, stops, and configures Windows services.
 shrpubw.exe-Shared Folder Creating Wizard
 sigverif.exe-File signature verifier,Detects changes in genuine windows files
 sndrec32.exe-Sound Recorder
 sndvol32.exe-Volume Control
 sol.exe-Solitaire Game ( Oh I just won!!! )
 sysdm.cpl-System Properties Dialog box
 sysedit.exe-Edit some system files
 syskey.exe-Secure Windows XP account database
 taskmgr.exe-Task manager
 telephon.cpl-Phone and Modem options
 telnet.exe-Microsoft telnet client
 timedate.cpl-Date and Time properties
 tourstart.exe-Windows XP Tour
 utilman.exe-Utility Manager
 verifier.exe-Driver verify manager
 winchat.exe-Chat in network ( Hiiiii )
 winmine.exe-Minesweeper game
 write.exe-WordPad
 wscui.cpl-Windows Security Center( SP2 Only)
 wuaucpl.cpl-Automatic Update settings