Just to chime in, you cant get a blue screen of death from a normal windows application since the advent of win2000. So if your Win95 or Win98 then get shot of that and upgrade. From NT, 2000, XP and beyond all processes have their own memory so if they pop then it doesnt take out the whole OS.

Now a device driver or something running in privileged mode can BSOD but an app will merely terminate - usually with one of those "This application has caused an unexpected error and needs to be closed" kind of messages. If you are getting random BSODs then check the event log and try to find out what code it posted. Then look up the code. It usually falls into one of two camps. A) is badly written device driver. If you can determine which one it is then upgrade it or disable that hardware device. If it has a driver required - like say a graphics card, then get a WHQL tagged driver which is also signed from the manufacturer. That means its been certified by microsoft... if you can trust the signing / certification process. The other common one B) is that some part of your systems hardware is dying and when the correct driver is talking to it, then its getting back gibberish or else its trying to make the hardware do something it doesn't want to do. 9 times out of 10 thats something with the power settings like sleep mode. So if your getting that then try disabling the sleep, standby and other low power options.

Another common cause of BSODs is that you have a virus of the root kit variety which is a virus running as a device driver. They are particularly nasty to get rid of. Also in the same camp are virus checkers & virus scanners like say ZoneAlarm or AVG which I find good but are also running in privileged mode. If you install some special software like Wireshark then it too has a driver based network packet monitor which is also a driver like bit of it.

Running a good set of drivers for your hardware is paramount for stability but I don't recommend just arbitrarily uninstalling various drivers to see if it helps as you may end up with an OS that wont boot and you would need to use the recovery disk or safe mode to get back in and fix it.