I have Windows XP Home SP 3. On my computer there is one Administrator
account and one Limited account.

I confess to not having used the Limited account for some time. Today I
decided I should get back into the habit of using the Limited account
whenever possible.

When I logged in to the Limited account I quickly noticed that I could not
use some applications I had previously been able to use. And I don't mean
Administrator-type applications - I mean innocent things like Winamp (a
media player.)

Let's take Winamp as an example. Winamp still appears in the Limited
account's start menu, but now when I click to launch it I get the flashlight
and Windows eventually tells me that it can't find Winamp. What's really
weird is that it says "Windows cannot find..." and then goes on to mention
the correct path of the Winamp executable! I know it's the correct path
because when I switch back to my Administrator account I can successfully
launch Winamp from the very same location.

There are other programs where I have the same problem. Some of the Start
menu programs are still usable, some are not (as described above.) How do I
fix this?

Try reinstalling the applications that are not working properly. I know that
VLC media player works perfectly in a Limited User account.
http://www.videolan.org/

--
Allan