Windows 7: How to access password protected shared folder

How to pass current Windows credentials to password protected network share

1. Create user/password on destination computer matching the user/password of current computer
2. Share a folder on the destination computer giving access to the new created user
3. On current computer change the local security settings as following:
3.1 Open Local Security Policy Console
3.2 Select Local policies -> Security Options -> Network security: LAN Manager authentication level
3.3 Select Send LM and NTLM response and click OK.

You can also specify different user to connect by during mapping a network drive on the destination computer.