There are quite a few different debuggers that could be installed on Windows XP. Disabling the debugger will allow you to run My Screen Recorder and other software.

I'm not sure if this is the one you are encountering but the main debugger for the system can be disabled by opening Regedit and going to this key:

HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Windows NT\CurrentVersion\AeDebug

Then rename AeDebug to something else say, AeDebug_ or AeDebug- or AeDebug1.

That will effectively disable the system debugger installed. This may include Dr. Watson or a third party debug tool.

You can also turn off the Machine Debug Manager. It runs as a service and is loaded when your computer starts.

Here are instructions on how to turn off Machine Debug Manager -
In the Registry Editor, locate the following subkey:
HKEY_LOCAL_MACHINE\Software\Microsoft\Windows\CurrentVersion\RunServices

In the right pane, right-click MDM7, click Delete, and then click OK to confirm the deletion. Note that the value for your version of the Machine Debug Manager may be different from MDM7.