If you need to be able to lock up a Win95 standalone desktop tight you might try FullControl from Bardon Data Systems.
http://www.bardon.com/index.htm
It's a bit pricey, but I use it to control access to Windows 95 and NT4 PCs which are used on a production floor as the controllers for binderies and industrial inkjet printers. The NT4 machines could be protected fairly easily by a decent support group, but in this case setting up security (and duplicating security setups among standalone and networked machines) had to be something that non-IT people could do. This software made all of that very easy to arrange for about $72 per seat.
The security this software provides on a Win95 system, when coupled with a startup password and preferential boot from hard drive enabled in BIOS makes that system as difficult to crack as a tight NT4 system. Not too shabby.
Regards,
Jim