Question : password policy properties are grayed out

I am trying to change the password policy of a win XP machine.  I am logged in as administrator and I can view the policies under administrative tools/local policies/password policies but when I right click on them and bring up their properties I can't change anything.  I can see the different options but they are grayed out.  The person who originally set this machine up is no longer around so I am not sure what he did whenhe configured this machine.  How can I change the settings so that I can change the password policies?

Answer : password policy properties are grayed out

If it is a stand-alone machine you will need to use the Group Policy.

1) Start >> Run >> secpol.msc
2) Account Policies
3) Password policies