This can be caused by corrupt log files or a corrupt security database.
There a 3 possible resolutions:
1. Rename the log files:
The log files are located at SystemRoot%\Security\logs.
Create an OldSecurity sub-folder at SystemRoot%\Security.
Move the log files from %SystemRoot%\Security\logs to SystemRoot%\Security\OldSecurity.
Shutdown and restart.
If this does not solve your problem, try resolution 2.
2. Restore the security database:
The secedit.sdb located at SystemRoot%\Security\Database.
If this does not solve the problem, try resolution 3.
3. Recreate the security database:
NOTE: All the Local Group Policy Settings will be Not Defined.
Create an OldSecurity sub-folder at SystemRoot%\Security.
Move the log files from %SystemRoot%\Security\logs to SystemRoot%\Security\OldSecurity.
Move the database from %SystemRoot%\Security\Database\Secedit.sdb to %SystemRoot%\Security\OldSecurity.
Start / Run / MMC / OK.
Console / Add/Remove Snap-in.
Add the Security and Configuration Analysis snap-in. Press Close and OK.
Right-click Security and Configuration Analysis and press Open Database.
Navigate to the %SystemRoot%\Security\Database folder and type Secedit.sdb into File name and press Open.
When prompted to import a template, select Setup security.inf.
Press Open.
NOTE: Ignore any Access Denied error.
Right-click Security and Configuration Analysis and press Configure Computer Now.