Damaged swap file
File allocation damage
Damaged password list
Damaged or incorrect version of the Kernel32.dll file
Damaged registry
Hardware, hot CPU, over clocking, broken power supply, RF noise, ground bounce, or bad hard disk controller
BIOS settings for Wait states, RAM timing, or other BIOS settings
Third-party software that is damaged or incorrectly installed
.dll files that are saved to the desktop
Non-existent or broken Temp folder
A control panel (.cpl) file is damaged
Incorrect or damaged hardware driver
Incorrectly installed printer drivers or HP Jetadmin drivers
Damaged Java Machine
Damaged .log files
Damaged entries in the History folder
Incompatible or damaged dynamic link library files
Viruses
Damaged or incorrect Msinfo32.exe file
Low disk space
Other problems that depend on the Kernel file

Check all these items first before anything else...