PCSX2 Kernel32.dll Error

Virus/Malware Scan
If you downloaded the PCSX2 emulator from anywhere other than its official website (link in Resources), it could contain a virus or malware. Performing a thorough security scan will determine whether your copy of PCSX2 is infected. Microsoft's free Safety Scanner tool (link in Resources) can track down such threats, but Microsoft cautions that it's not a substitute for up-to-date anti-virus software.
Re-Installation
Errors during the installation of PCSX2, such as your computer shutting down or rebooting, can lead to file corruption. You can reduce the chances of this occurring by closing unimportant programs before starting the install and confirming receipt of a notification message when installation completes. If you encounter Kernel32.dll errors when first attempting to run PCSX2, you might solve the problem by uninstalling the software via the Windows Control Panel and performing a full re-install. If that doesn't work, you can download the latest version of the PCSX2 software from its official website and try again.
DirectX Drivers
PCSX2 uses the Microsoft DirectX APIs -- application programming interfaces -- to render and display the PlayStation 2 game visuals. If the emulator crashes with a Kernel32.dll error message, your version of DirectX could be out of date. The DirectX Diagnostic Tool, accessible by typing 'dxdiag' into the 'Search programs and files' area of your computer's Start menu, will reveal which version you have. You can download the latest version of DirectX from Microsoft, if needed (link in Resources). DirectX is included with Windows, but unlike security-related fixes, it doesn't update automatically.
Graphics Plugin
One of the graphics plugins for PCSX2, GSDX, uses the DirectX 9 and 10 APIs to render better-looking visuals than you'll find on a Playstation 2. If you have the latest version of DirectX installed but still receive the Kernel32.dll error when trying to run PCSX2, it could indicate a conflict with your graphics card; for example, you may have selected the DirectX 10 plugin, but your PC's graphics card doesn't support DirectX 10 features. Changing the graphics plugin via the 'Graphics' section in the PCSX2 Configure menu or buying a newer graphics card may solve this problem.