Setting up User Accounts in SharePoint 2007 :Useful Tips to share

• A few years back,I was not sure of how User Accounts in SharePoint 2007 should be set up.
  Here is an useful extract I found to guide me:
  If you are installing SharePoint properly, you'll use the 'least privilege account principle'; this basically means that each distinct service inside the SharePoint farm will have its own domain user account. These accounts should have the minimum privileges that they need to perform their jobs. There is a great document which goes into detail on each different account (8+ accounts) here, however in summary, you should have the following accounts:
• SQL Server Service Account: Account used by SQL to run all SQL services
• Server Farm Account
• SSP Service Account
• Office SharePoint Server Search Account
• Default Content Access Account
• User Profile and Properties Content Access Account
• Excel Services Unattended Account
• One account per application pool: This is typically three accounts; SSPAdministration, MySite and your main 'Portal' or 'Intranet'.

For more information refer to this
http://technet.microsoft.com/en-us/library/cc263445.aspx