There is a manual way to do it and also a few freewares that I could recommend, however none was as easy and as complete as using OE Backup Wizard.

The program is not free ($40) but the trial version lets you use it with full functionality within the trial period. Give this tool a shot if you really like it and want to continue using it then you might consider buying but trial version does the job and once done backing up and restoring the data, simply uninstall it.

OR

You could use Windows XP's own File and Settings Transfer Wizard.