Many times it is necessary that you need to modify the Local Security Policy(LSP) as mentioned on many sites found after googling. But you are not able to find it on your local system on the following path: Start > Control panel > Administrative Tools > Local Security Policy.

The reason is, this path is true for only professional version of Window operating system.

So if you need to modify the LSP on home basic version of Window's, then need to take the help from registry editor. Please follow the following step to edit LSP:

1. Type regedit in Run to open registry editor.
2. Follow the path : HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Control\Lsa
3. If it doesn't already exist, create a DWORD value named 'LmCompatibilityLevel'
4. Set the value to 1
5. Reboot

Through this you will be able to modify LSP on your system.