No me sirve el localhost

He instalado el IIS 5, la instalacion no tuvo problemas
pero cuando le fui a colocar localhost en el explorador me
dice HTTP 500 Internal Server Error, reviso el Visor de
Eventos y genera un Warning y un Error.

El Warning dice: The server failed to load
application '/LM/W3SVC/1/ROOT'. The error was 'The server
process could not be started because the configured
identity is incorrect. Check the username and password.
'.

El Error dice: DCOM got error "Overlapped I/O operation is
in progress. " and was unable to logon .\IWAM_JVSF in
order to run the server:
{3D14228D-FBE1-11D0-995D-00C04FD919C1}

Agradeceria su ayuda.

Gracias