Use Live CD to edit/create Partition

These days,i find many people are facing problem after making new partition using(Control Panel->Administrative Tools->Computer Management->Diskmanagement).Though they are able to make new partition using this option in control panel,after rebooting a error comes out something like this
Grub loading..
no file system found
grub_rescue>
Any way you can fix this problem taking a little pain.But its quite difficult for newbies.So my recommendation is not to use this option to make/edit a partition.Instead use a live cd which has gparted,and make/edit partitions in it whatever way you want.This is very easy and fast also.You can create filesystems of diffrent format using gparted.But makesure you created a partition of ntfs format so that you can access it in windows machine also.