It must be 32-bit XP as McAfee would not install at all otherwise.
When you have some spare time I thoroughly recommend that you update to SP3 and there is help with that here:
http://community.mcafee.com/showthread.php?t=220807(You will have to disable at least VirusScan and I posted how to do that above). Also make sure you are up to date with ALL Microsoft updates.
Do the following to cleanup McAfee and, hopefully, get it to work properly.
1. Uninstall all McAfee programs through "Add or Remove Programs" in Windows "Control Panel".
2. Use the MCPR tool, see this article:
How to remove supported McAfee consumer products using the McAfee Consumer Products Removal tool (MC... This will remove all McAfee remnants from your computer. (you must have Windows Vista, XP or 2000 SP4 to use this tool)
3. Launch Windows Explorer and delete all McAfee files in "Program Files" but especially in "C:\Document and Settings\<user>\Application Data" and "C:\Document and Settings\All Users\Application Data". You have to set Windows Explorer to show all hidden files and folders (Tools > Folder Options > View tab). Just delete the McAfee folders even if they are empty in all the "Application Data" folders. Can be more than one!
Don't worry if you can't find these files and folders as the removal tool should have deleted them anyway.
4. Reboot and redownload/reinstall your McAfee products directly from your account at the McAfee web site, NOT from any CD that you may have.
Worldwide McAfee Download Sites