Microsoft introduced HomeGroup in Windows 7 to enable easy sharing of data and devices across the network.
Two computers within a homegroup can directly access the shared data and devices connected to them. So, you need not mail a document to another computer just to print it. You can directly access that computer’s printer through homegroup sharing.
The settings of homegroup are found in this section.
How to Access It
If no homegroup exists within your network, then you can create one here. Otherwise, you can join an existing homegroup.
You need to have the password of that homegroup, though. Creating a homegroup automatically generates a password that is required by every machine wanting to join the homegroup.
Once the machine creates/join a homegroup, you can share the libraries to the homegroup. Each library can be individually turned on/off for sharing. If you have sensitive documents on your machine, then you might want to turn off the sharing of Documents library.
Thus, you have total control over what data is going to be shared in the homegroup.