Windows handles Virtual Memory a little different than the Mac does.
Windows can dynamically change how much an App is taking and can also take memory from apps that are not currently using it and use it for ones that need it. This is "somewhat" similar to the way Mac OSX will handle memory.
The Mac OS (9 and lower) handles it a little differently. It "delegates" a certain amount of memory to each app (which you can change prior to opening the app). If you are concerned about not being able to open up more than 2 browser windows, then you need to increase the amount of memory that your browser is allowed to have. If you do this you will also want to increase the amount of Virtual Memory (or Ram Doubler memory - if you have that app) then restart. This will help prevent you from getting those "out of memory errors". However, running a lot of apps off of VM will slow down performance.
Note: if you only have about 32MB of memory then you really should think about getting more. Right now it's pretty cheep. I've purchased memory from
www.memorytogo.com several times and have been completely satisfied. Right now they have 128MB for Slot loading iMacs for $80, and 128MB for older iMacs for $104, which is a steal.
All in all Windows does a better job of memory "management" than Mac OS9 and lower. Especially in low memory circumstances.
Hope this helps...
blizaine