Programs crashing because of Microsoft Visual C++

[edotherocket 0]

I use my computer mostly for media and I have some problem with XP at the moment and its causing Media Player, Winamp etc. to all crash as soon as they try to play a video file.

 

This is the error message I keep getting (or something very similar) for each program:

 

 

I looked it up online and found a couple of websites which identified the problem but I don't really understand how to resolve the issue. It's happening to multiple programs so I'm assuming its some sort of problem with my Windows XP.

 

Example of a site which mentions the bug:

http://support.softartisans.com/kbview_577.aspx

 

Can anyone help out here? It would be much appreciated.