Random BSODs Error code 1000008e on Win XP Home SP2

Here's the Error code I got from Event Viewer: 1000008e, parameter1 c0000005, parameter2 bf3f6d57, parameter3 a4d5ba94, parameter4 00000000.

I'm in great desperation so I opted to consult you guys here in Techspot. My pc was initially formatted last March 9, 2012, and it suddenly rebooted in March 14 while watching some streams (animecrazy.net) on the net. So I decided to uncheck the "Automatically Restart" under the System Failure tab of Startup & Recovery. Thus, the BSODs began. As much as I wanted to install windows debugger to read those minidump, I cannot because of my OS. And I'm scared to try the memtest since I'm not pro in PC troubleshooting. My last resort is to install the "Service Pack 3" so I could install Windows Debugger here, but I'm still hesitant. Attached here is the first dump file I had. Hope you guys can help me out.. Thanks to all!

Looks like the ATI graphics driver is the fault... Also update to XP Service Pack 3 soon. It might help things. You're missing some 120 Windows updates besides Service Pack 3. I always wonder about Windows users, who don't update Windows... Is your Windows genuine?

Wow, Thanks a lot Sir Tmagic650 for that immediate response.. Btw, after posting my problem, I updated the ATI Driver through Uniblue's Powersuite. Since then, there has been a popup note each time I turn on the pc: "Driver could not be loaded" with the title "LU" and a clickable "Ok"..
Here's what I know, our copy of Win XP is not genuine, it requires an Activation within 30 days from its installation. But we have several license keys of it so its activation is always done, but not registered. In my experience, I encountered some audio bugs since I updated to Service Pack 3 online through Microsoft's server. So I did not repeat that again.. But I now downloaded service pack 3 (full) from softwarepatch's site. Guess I must proceed anyway, my deepest gratitude to all