Quit LW. Click the Finder icon in the Dock and go to the Library there. Go to Preferences and find and delete the Limewire folder there. Relaunch LW. See if it works.

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iMac G4 OSX 10.3.9
RAM 256MB
LW 4.10.5 Basic
ADSL anything from 3 to 8Mbps/around 1024kbps

"Raise your can of Beer on high
And seal your fate forever
Our best years have passed us by
The Golden Age Of Leather"
-Blue Öyster Cult-