Thank you mdhall for your response,
I finally figured out how to do it, here it goes:
on your command prompt and at the mysql\bin directory type the following:
c:\mysql\bin>mysql --user=root mysql
this will log you into mysql as the root user, which is the default user, then type the following:
mysql> GRANT ALL PRIVILEGES ON *.* TO monty@localhost
-> IDENTIFIED BY 'some_pass' WITH GRANT OPTION;
this will add the new user and setup the privileges of that user.
the source for this information is at:
http://www.mysql.com/doc/en/Adding_users.html
For editing and manipulating databases I highly recommend "MySQL-Front" which is a very neat program for handling MySQL databases
good luck and thank you again