unable to access the CF server

Panda, the URL to use depends on many things. Did you install CF? During the install, did you choose the option to use the built-in web server? Or the external web server (like IIS or Apache)? If the latter, then you wouldn't (typically) specify a port in the URL. Have you tried that?

If you installed using the built-in web server, you also would have been asked what port to use. It might be 8500, or if you had another version of CF already installed, you would have been given another port as an option (perhaps 8501). Also, if you installed CF using the multiserver/multiinstance mode, you'd likely have a yet different port (like 8300, or 8301, etc.)

There's a way to tell for sure whether you're using the built-in web server and what port. Check the doc discussed here ( http://www.adobe.com/support/coldfusion/adv_development/config_builtin_webserver/config_builtin_webserver03.html) and see if your file shows the deactivated entry as false or true. If false, then it's enabled and available. Check the port entry for the value to use.

Is this working?

http://127.0.0.1:8500/CFIDE/Administrator/index.cfm