Everybody receiving error message like "virtualbox failed to create the virtualbox com object" should by following steps to make it work again .
1. Please download latest version of virtualbox.(
2. Download CCleaner and install it .
3. Uninstall virtualbox and delete folders .virtualbox
4. Run CCleaner files and registry scan and delete everything it finds on your pc .
5. Restart your pc.
6. Install Virtualbox and run it . It should work now .
NOTE : This one way has been tested only on windows 8.