Separate Favorites in IE?

My wife wants to use IE6 sometimes but doesn't use the computer for anything else. I don't really want to create a separate user account for her unless absolutely necessary and she doesn't want to use Firefox or Opera.
Is there any way to have her run a separate instance of IE6 with HER OWN separate Favorites. It would also be good if the opening of these separate versions was password protected. Anyone seen any software that can do this...like different profiles for each IE6 user that are password protected.

BTW, I use FAT32 not NTFS.

 

I'll have to defer to others in regards to a 3rd party program accomplishing this task. However....would not creating a folder for her be sufficient ?

Bubba

 

From an organizational standpoint it works okay, but I don't want anyone else to have access to all my Favorites.
At least I would like to have at least one Favorites folder password protected for private stuff. I guess I could move this
stuff to a non-Favorites folder on the HDD and delete my history after every session...