Hi!!!
Well, I've a 386 compaq with 8 Megas of RAM. I use it only for printing and word typing. I have on it Grey Cat Linux 3x. It's a pretty small distro and comes with Netscape, IceWM, printing tools, midnight commander and many other useful programs. It's installation is made by floppy disks which is cool. You don't need to create any kind of partition for it, it runs under DOS File system

. It's Slackware 3 based (If I'm not mistaken) so you can download pre-compiled Slackware programs and use with it. I'm glad with it, but you can't do much. Perhaps you would like anything more powerful to learn Linux. Otherwise, here is the link:
http://home.wanadoo.nl/peterdekoning/main.htm
Good luck