The original version of Windows 95, along with OEM SR
1 (original + SP1) can only handle partitions up to 2GB. This is a limitation of FAT16.
Win95B (OSR2, OSR2.1) and Win95C (OSR2.5) use
FAT32, and can handle partitions up to 32GB in size. However, due to what Microsoft terms as "system limitations" will not handle hard drives over 32GB.
Although a patch is available for Win98 to address drives greater than 32GB, Microsoft has refused to patch Win95. More information can be found here:
Windows 95 Does Not Support Hard Disks Larger Than 32 GB.