All versions of Windows can network with each other.  The key is to
use the same, single network protocol on all of the computers.

Installing TCP/IP on W95 was a good step, because that's the default
protocol in all later versions of Windows.

A common reason for inability to browse the network is that the user
isn't logged on.  Is there a logon prompt when W95 starts?  If so,
don't cancel it.  Complete the logon by entering a user name and,
optionally, a password.  If there's no logon prompt, click Start | Log
Off or Start | Shut Down | Close all programs... and log back on.  If
that makes network browsing work properly, the most likely fix is to
go to this registry key:

HKEY_LOCAL_MACHINE\Software\Microsoft\Windows\CurrentVersion\
Network\Real Mode Net

and delete the value named "AutoLogon", as shown here:

http://www.wown.com/j_helmig/nologon.htm#AutoLogon

Here's my standard advice for networking W95 with XP:

Since Windows XP's Network Setup Wizard won't run on Windows 95,
configure the Windows 95 network settings manually.  Go to Control
Panel | Network and:

1. Add these network components if they aren't already present:

  TCP/IP protocol
  Client for Microsoft Networks
  File and Printer Sharing for Microsoft Networks

2. Remove these network components if they're present:

  IPX/SPX protocol
  NetBEUI protocol
  Client for NetWare networks

3. Set the workgroup name to the same name as the Windows XP computer
uses (default for XP is MSHOME).

If there's a DHCP server on your network (broadband router or a
computer configured as an Internet Connection Sharing host), that's
all there is to it.  The DHCP server will automatically assign TCP/IP
properties to Windows 95.  For information on ICS, see:

Windows XP Internet Connection Sharing
http://www.practicallynetworked.com/sharing/xp_ics

Otherwise, you need to assign static IP addresses to both computers.

On Windows XP:

1. Open the Network Connections folder.
2. Right click the network connection.
3. Click Properties.
4. Double click "Internet Protocol (TCP/IP).
5. Click "Use the following IP address".
6. Enter IP address 192.168.0.1.
7. Enter subnet mask 255.255.255.0.

On Windows 95:

1. Go to Control Panel | Network.
2. Double click "TCP/IP->network adapter".
3. Click "Specify an IP address".
4. Enter IP address 192.168.0.2.
5. Enter subnet mask 255.255.255.0.