Colin is correct if you are looking to connect to a SQL Server. It would appear from your connection string that you may be trying to connect to an Access database (.mdb)?
In which case you should tick the Force 32 Bit tick box and use either the Microsoft Jet or the Microsoft Office Access driver. See which one works best for you.
ODBC is generally a last resort when you can not get any other connection method to work (for old flat file databases, for example).
Hope that helps,
Of course Microsoft have done a turnaround regarding OLE DB and support will (eventually) be removed with regards to SQL Server, and ODBC may once again rule !
When I can post links without being moderated, I'll add them.