I use windows 7 64bit. each time i open Chrome, it asks for authentication details with username and password. Softwares which require net connection and do not have proxy settings column fail to work. I know there is a way to save system wide proxy settings but its just the 'prox' and the 'port'. How can i also save the username and password along with it
I don't think that you are telling us everything.
The only reason you would require a proxy for everything is if you are on a controlled network. e.g. at an organisation such as work or a university. It would be helpful if you included this information.
Both Chrome and Internet Explorer use the Internet Settings that are found in the control panel of Windows and in the Options panel of Internet Explorer.
They also both make use of the Windows credential store which should offer to save credentials when you get the dialog box to enter them - look for the tickbox at the bottom. Once saved, Windows should seamlessly present the credentials in the future and you shouldn't see them. If you are still seeing them, something else is amiss, update your question and we can help further.