I was trying to install SpywareBlaster and the following error message came up:

C:\WINDOWS\system32\MSSTDFMT.DLL

Unable to register the DLL/OCX: LoadLibrary failed; code 5.
Access is denied.

what does this mean?

try installing it in safe mode..allso..i'd recomend you get something like spybot search and destroy..or lavasoft ad-aware...but..its just my opinion..i personally dont like SpywareBlaster

SpywareBlaster is not the same as Spybot - Search & Destroy or Ad-Aware. Many here use it and recommended it.
SpywareBlaster - A program that locks your browser from running known malware or downloading programs from known malware sites. SpywareBlaster will added a large list of programs and sites into your Internet Explorer settings that will protect you from running and downloading known malicious programs.

Ad-Aware - The original spyware removal tool. It is an essential tool to use alongside Spybot when cleaning your system.

Spybot - Search & Destroy - An essential tool to use alongside Ad-Aware when cleaning your system

For some error messages the Javacool Software Knowledge Base recommends to try reinstalling SpywareBlaster from a fresh setup package. The download is available here:
http://www.javacoolsoftware.com/sbdownload.html