If you want to start messing with your MultiBit folder, you must be careful with what you do and don't deleted.
These three items are safe to delete:
"multibit CHECKPOINT File"
"multibit SPVCHAIN File"
the "log" File folder
These critical items you must back up:
Every WALLET File
the "multibit-data" File folder
There are some other files in there too, they contain preferences and transaction notes you've added. They're not critical to back up, but there's no reason to delete them either; just leave them alone.
If I were you, I'd
1. close MultiBit
2. take a copy of the two critical items above, just in case (right-click & copy, then go to another folder e.g. My Documents, right-click & paste)
3. delete the three deletable items above
4. re-install the latest version of MultiBit (v0.5.18) from here: https://multibit.org/