Error code 1000008e = "KERNEL_MODE_EXCEPTION_NOT_HANDLED_M" - Most of newsgroup comments about this error point to faulty hardware or drivers. The hardware varies from modems, video cards, USB device to memory or sound cards. Sometimes it proves to be hardware that it is not compatible with Windows XP. M310740 gives an example of this error occuring when and old Audigy sound card driver is installed.
Have you added any new hardware lately? Try running some diagnostics on the RAM (memtest86+) and the hard drive. Although if you had issues with the ram or hard drive you'd be seeing some other issues. Make sure you have all of the latest drivers for your hardware (or if you just got new drivers and started getting this error try rolling back)