IE Low MIC Utility Tool or ielowutil.exe
The ielowutil.exe process is a legitimate Microsoft process that is a part of the Internet Explorer. It is a system file, located in the C:\Program Files\Internet Explorer folder. On my Windows 8 x64, it occupies a size of around 220 KB. If you open its Properties, you will see it described as Internet Low-Mic Utility Tool. The Internet Low MIC Utility Tool is the broker process that handles operations that require the processing of low- and medium-integrity process API calls. This process helps increase security and reduce malware attack vectors. In Internet Explorer 8 and later versions, this process acts as a helper process for the Internet Explorer Protected Mode. So if you see ielowutil.exe in your Windows Taskbar, there is no need to worry.
Internet Low-Mic Utility has stopped working
If you see a message box frequently pop up with the message Internet Low-Mic Utility has stopped working, then the probable cause could be one of your installed add-ons. Run IE in No addons mode. If you do not receive any error, then you may want to go through your list of installed add-ons and disable themes selectively till you find the culprit. Once you find the offending culprit, uninstall that add-on. If this does not help reset IE and see if it helps.