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If you have a Hewlett Packard computer (or maybe printer), the "hp.exe" is most likely it's updater.
You don't need it since XP has an autoupdater for getting Windows updates and you don't need to get other updates (no matter what HP thinks ) as long as everything's working to suit you.
Knowing HP, it's likely the only way to turn off their updater is to go to Start>Run, type in "msconfig" (without the quotes), click OK, then go to the Startup tab. Look for an entry for "hp.exe" or HP updater and uncheck it, click OK.
Next time the computer is booted up, you'll get a dialog box "warning" that you're starting in selective mode. Since you selected something not to load on startup (by unchecking it), you do want to start in selective mode. Check the box at the bottom of that window to tell it not to show you that message again, then click the Yes button.