On Windows XP if you are not joined to a domain there will be no Security tab option available.

If you need to show the Security tab:

  1. Click Start, and then click Control Panel.
  2. Click Appearance and Themes, and then click Folder Options.
  3. Click the View tab, and then click to clear the Use simple file sharing [Recommended] check box in the Advanced settings box.
Now you can fine-grain your security options (useful for giving/revoking read/write permissions to web server user while testing webmail clients on a windows box as I'm actually doing)