First, this is probably the profile you are using to log in to the computer.
Don't rename it or delete it - you probably won't be able to log on!! The long name could be a randomly generated computer name that has been attached to your profile. This sometimes happens when there are more than one profiles stored on your machine with the same name.
You can create new profiles and use them instead, even copy your existing profile information to a new profile. To create a new location just create another user in control panel - "User Accounts" and log in with that account.
If this is a standalone computer you might wish to rename it (if you're not sharing any files or folders or printers ) so the name is less next time. to do this right click "my computer", select "properties" and click the "computer name" tab. Then click the "change" button to rename your computer - you'll have to reboot.
if you want to copy an existing user profile try this link:
http://www.microsoft.com/resources/d...file_copy.mspx
Make sure you have a good backup of any documents before making any changes. User profiles can be problematic so be careful and try to visualise what you are doing - you must always have a spare login available with adminstrative rights when doing this stuff. If you don't feel comfortable with this leave it alone!!