http://www.chromium.org/developers/creating-and-using-profil...

http://www.chromium.org/user-experience/user-data-directory

A couple of other takes that look useful for some (e.g. screenshots and a bit more context about data bleed) -- apologies for any spamminess I missed/ignored while quickly skimming these (e.g. IIRC wikihow does not have the most sterling reputation).

http://www.wikihow.com/Create-Multiple-Google-Chrome-Profile...

http://www.labnol.org/software/create-family-profiles-in-goo...