Salesforce for Outlook — Error "database disk image is malformed" or "Unable to access your configuration"

To resolve the corrupted database error in Salesforce for Outlook, follow these steps on the affected Windows machine:
Step 1 — Close Salesforce for Outlook
Right-click the S icon in the Windows system tray (bottom-right corner, next to the clock) and select Exit.
Step 2 — Open the Salesforce for Outlook Data Folder
Hold the Windows key and press R to open the Run dialog. Type the following path and press Enter:
%appData%\salesforce.com\Salesforce for Outlook
Step 3 — Rename the DB Folder
In the folder that opens, locate the folder named DB and rename it (for example, rename it to DB_old). This preserves the old data while allowing a new database to be created.
Step 4 — Relaunch Salesforce for Outlook
Open Salesforce for Outlook from the Start Menu or desktop shortcut. A grey S icon appears in the system tray once it is running.
Step 5 — Reconfigure Settings
Right-click the S icon in the system tray and click Settings. Enter your Salesforce credentials and click Login, then click Allow, and click Next.
Step 6 — Select Sync Folder and Method
Select your default sync folder and click Next. Choose your preferred sync method (manual or automatic) — for more information see Salesforce for Outlook Sync Selection in the SFO Wizard. Click Save to exit the wizard. Sync starts automatically.