Google Chrome provides an easier way to create multiple user accounts to separate browsing data and preferences on a shared computer. This feature allows you to create different user accounts for your family members and friends, if you use a common computer. By creating separate accounts, users can have their own personalized sets of browsing data, add-ons and other settings. To create user accounts in Chrome, visit the Settings page from the main menu of Chrome:

Managed Users : New Feature
Chrome team is working on a new feature “Managed Users”, which will enable creation of less-privileged user accounts in Chrome. Currently, all user accounts have same privileges and access to all features & settings. Any user can change settings for himself and customize the browser as per his requirements.
The managed users would have restricted and pre-configured access to the browsing and Chrome settings. The root user (or, the first user) can also disable incognito mode for the managed users. As this feature is not complete yet, we don’t have much details about it .

This feature can be used for implementing parental controls in Chrome and Chrome OS. To test out the initial work, launch the latest Chrome Canary / Chromium build with –enable-managed-users switch, and visit the chrome://settings/managedUser page.
(h/t François Beaufort)