From Sontrex Software:
Spylo PC Monitor is a flexible monitoring software used by parents and business organizations for tasks such as testing usability and studying PC usage. This software tells you exactly who is doing what on your computer at what time. This stealthy, monitoring utility provides you with information about every run application, keystroke, stored password, Web page password, established Internet connection, and visited URL, and it takes screenshots of these events. Program logs are extremely compact, as screenshots are JPEG-compressed. Monitoring eats only a small amount of processor time, and it is invisible to the user. The program includes the Eliminate Evidence feature, in which it automatically removes itself from the Add/Remove Programs list and the list of recently started applications in the Start menu of Windows XP. The Anti-Spy feature makes the work of privacy shields impossible. This program has great ability and a low price--a reason to try it.
This version features minor improvements and bug fixes.