There is always a risk from peer-to-peer, however, Limewire will warn you if you try to download a .exe file. Make sure you have a good Anti-Virus, anti-spyware, and always scan downloads with your anti-virus before opening.

And, always backup, and that is always a good idea, even if you don't use Limewire.

GoBack, or Ghost is good for returning your computer to it's original state, if things get messed up. As long as your backup is good.

thanks, but how can my computer get messed up if im not downloading executable files? ive heard there is a concern since my computer is always connected to the internet, that since its a peer to peer network, people can access my hard drive and mess with it, i need a reality of if i download music and movies, should i be ok?

Not to mention that downloading music from Limewire is illegal.