Yes it is. Select File, then Identities then Add New
Identity.
Use the Type Your Name exxt box to enter a name for the
new identity.
If you want the new identity to be password protected,
activate Require a Password check box. Enter the
password and click OK.
Click OK.
When Outlook Express asks if you want to switch to this
new identity, click Yes. OUtlook Express will shut down
and restart.
Run through the wizard to define the Internet email
account data for the new identity.