Event Details
Operating System->Microsoft Windows->Built-in logs->Windows 2000-2003->Security Log->Account Logon->EventID 675 - Pre-authentication failed
EventID 675 - Pre-authentication failed
Indicates that the ticket-granting ticket (TGT) was not obtained. 
Event IDs 675 and 677 indicate failed attempts to logon to the domain.  If a client computer's time differs from the authenticating domain controller's by more than five minutes (by default), Event ID 675 will also appear in the security log.
The reason is in the failure code, see here. 

In other words, it indicates a user/computer failed initial logon. 

Find more information about this event on ultimatewindowssecurity.com.

Note:
Refer to the following link in order to see the human-readable descriptions of the codes displayed in the Failure Code field.

Corresponding events on other OS versions:
Windows 2008
 Sample: 
        Event Type:     Failure Audit
        Event Source:   Security
        Event Category: Account Logon
        Event ID:       675
        Date:           10/26/2009
        Time:           07:39:56
        User:           NT AUTHORITY\SYSTEM
        Computer:       DC1
        Description:
        Pre-authentication failed:
        User Name:	Paul
        User ID:		%{S-1-5-21-184992632-1607737289-1287950321-1178}
        Service Name:	krbtgt/RESEARCH
        Pre-Authentication Type:	0x2
        Failure Code:	0x18
        Client Address:	127.0.0.1
Log Type: Windows Event Log
 Uniquely Identified By:
Log Name: Security
Filtering Field Equals to Value
OSVersion Windows 2000
Windows XP
Windows 2003
Category Account Logon
Source Security
EventId 675
Field Matching
FieldDescriptionStored inSample Value
DateTime Date/Time of event origination in GMT format. DateTime 10.10.2000 19:00:00
Source Name of an Application or System Service originating the event. Source Security
Type Warning, Information, Error, Success, Failure, etc. Type Success
User Domain\Account name of user/service/computer initiating event. User RESEARCH\Alebovsky
Computer Name of server workstation where event was logged. Computer DC1
EventID Numerical ID of event. Unique within one Event Source. EventId 576
Description The entire unparsed event message. Description Special privileges assigned to new logon.
Log Name The name of the event log (e.g. Application, Security, System, etc.) LogName Security
Category A name for a subclass of events within the same Event Source. Category Logon/Logoff
User Name Account name of the user/computer requesting the ticket-granting ticket InsertionString1 Paul
User ID Account name of the user requesting TGT in the following format: domain name\account name InsertionString2 %{S-1-5-21-184992632-1607737289-1287950321-1178}
Service Name The account name of the service distributing tickets, e.g. krbtgt InsertionString3 krbtgt/RESEARCH
Pre-Authentication Type The code for the type of pre-authentication. InsertionString4 0x2
Failure Code Displays the reason for the authentication failure. Please find the code descriptions here. InsertionString5 0x18
Client Address IP address of the workstation from which the TGT request was sent. InsertionString6 127.0.0.1
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