OK, the above techniques didn't work and you have to re-install.
   Here's what to do to make re-installing work best:
   
   Plan to re-install from DOS, not from within Windows or Win95. This
   way it'll assume a fresh installation.
   
   From the DOS prompt outside of Win95, change to your Win95 directory,
   and type this:

ATTRIB -H -S -R *.DAT

   This will unhide the Registry files system.dat and user.dat. Then
   delete them. That's right, delete them. A corrupted Registry will
   cause no end of trouble until it's killed dead. If you have user
   profiles you can restore user.dat easily enough.
   
   If you were smart enough to make up a Registry backup with the
   startup disk, you can try re-building it after you delete the
   system.dat and user.dat, if you're sure that the backup is a good
   copy. Still outside of Win95, change to your Win95 directory and type:

REGEDIT /C REGBCKUP.REG

   This will kill the current Registry files and re-build them from the
   .REG text file. If necessary, specify the disk path in the filename,
   after all, that .REG file will easily exceed 1 MB, and you probably
   copied it to a separate disk.
   
   If you didn't make a Registry backup, you'll have to re-install your
   32-bit apps and settings, but that's safer than trying to use a
   corrupted Registry.
   
   Remove all the DOS drivers and TSRs you can, so it won't hinder
   Win95's Setup. If you have the CD-ROM version, only have the DOS CD
   driver, himem.sys, and mscdex loaded.
   
   Edit the remaining system.ini to remove all foreign drivers from the
   [386Enh] section. A clean system.ini's [386Enh] section will look
   exactly like this:

[386Enh]
ebios=*ebios
device=*vshare
device=*dynapage
device=*vcd
device=*vpd
device=*int13
display=*vdd,*vflatd
mouse=*vmouse, msmouse.vxd ; the mouse driver may vary, but shouldn't be .386
woafont=dosapp.fon
keyboard=*vkd
device=*enable
PagingDrive=C:             ; this may vary depending on where you put it
MinPagingFileSize=32768    ; these will vary depending on your swap file
MaxPagingFileSize=32768    ; Or they may be even missing, that's OK

   You might also have a device=*vpowerd if you have power management on
   your system. Don't forget: All of Win95's drivers really sit in the
   Registry, not here.
   
   The best bit of advice I can offer, regarding disaster recovery, is
   use the Backup program which comes with Win95, or use any backup
   program designed for Win95, to do a Full System Backup. This kind of
   backup will copy The Registry to tape as well as the hidden and system
   files. When you complete the re-install, restoring this tape will
   restore all your original settings. All of them.