Did this problem suddenly start? Were there any recent hardware changes?
You don't have many options - you need to determine if you have good power before you do anything else. Assuming all the wires are properly connected, see my canned text below to test PSUs.
Once you know you have good power, you can proceed from there. After the PSU is checked, I generally start by disconnecting everything not needed, which includes all but one stick of RAM, all drives, and any detachable devices, so you are left with one stick of RAM, the CPU and heatsink fan assembly, keyboard and mouse, and the graphics solution (if not using on-board graphics). You should see it attempt to boot but halt when it cannot find a bootable drive. If it does not get that far, your only options are to try another stick of RAM (if you have more than one). If it still fails, then without any spare parts to try, a trip to the shop would be in order.
Do note if you try another motherboard, it would likely corrupt your boot drive as the Windows on the drive would see the new motherboard (which has many integrated hardware devices, each requiring their own hardware drivers) as a different computer, and either choke completely, and/or make you re-authentic with Microsoft.
***
To
properly and
conclusively test a power supply unit (PSU), it must be tested under various
realistic "loads" then analyzed for excessive [url="http://en.wikipedia.org/wiki/Ripple_(electrical)""]
ripple[/url] and other anomalies. This is done by a qualified technician using an oscilloscope or power analyzer - sophisticated (and expensive) electronic test equipment requiring special training to operate, and a basic knowledge of electronics theory to understand the results. Therefore,
conclusively testing a power supply is done in properly equipped electronic repair facilities.
Fortunately, there are other options that are almost as good. I keep a
FrozenCPU Ultimate PSU Tester in my tool bag when I am "in the field" and don't have a good spare power supply to swap in. While not a certain test, they are better than nothing. The advantage of this model is that it has an LCD readout of the voltage. With an actual voltage readout, you have a better chance of detecting a "failing" PSU, or one barely within specified
ATX Form Factor Standard tolerances. Lesser models use LEDs to indicate the voltage is just within some "range". These are less informative, considerably cheaper, but still useful for detecting PSUs that have already "failed".
Newegg has several testers to choose from. All these testers contain a "dummy load" to fool the PSU into thinking it is connected to a motherboard, and therefore allows the PSU to power on, if able, without being attached to a motherboard - great for testing fans, but again, it is not a true load or suitable for conclusive testing.
As mentioned, swapping in a known good supply is a tried and trued method of troubleshooting used for centuries, even by pros. Remove the "suspect" part and replace with a "known good" part and see if the problem goes away.
I do not recommend using a multimeter to test power supplies. To do it properly, that is, under a realistic load, the voltages on all the pins must be measured while the PSU is attached to the motherboard and the computer powered on. This requires poking (with some considerable force) two hard and sharp, highly conductive meter probes into the main power connector, deep in the heart of the computer. One tiny slip can destroy the motherboard, and everything plugged into it. It is not worth the risk considering most multimeters, like plug-in testers, do not measure, or reveal any unwanted and potentially disruptive AC components to the DC voltages.
And remember, anything that plugs into the wall can
kill. Do not open the power supply's case unless you are a
qualified electronics technician. There are NO user serviceable parts inside a power supply.