The third option is to employ Microsoft SteadyState 2.5, available for download from www.microsoft.com.
Once installed, this free application can be used to adjust various settings on your computers.
To prevent access to Internet Explorer, you should install

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under your Administrator login.
After running the utility, go to the right-hand column and choose Add a new user – here enter the username of the person whose access you want to block.
Next, after setting up a password for this user, go to the Feature Restrictions tab. Here, you can Prevent Internet access, as well as allow the user to view only approved websites, such as a locally hosted intranet page, for instance. Once you have completed your intended changes, confirm them and restart your PC.
Microsoft SteadyState 2.5 is a powerful tool that can be used for many different user management purposes, so use with care!