Unable to reset my folders security options to default.

Hello,

I right clicked on my 1 TB WD hard disk and went to properties .There under security , for everyone I chose certain permissions(only read). After this i noticed, that a create owner user with special privilege is also created. Thereafter when I try to access my folders in my hard disk , i am getting access denied error. Without thinking I deleted the 'Creator Owner' . Even now I'm getting the same error.
Somehow I found out that I'm am able to use those files only after the following procedure: right click -properties-security-advanced-continue: select the administrator one(the only one present)-check include inheritable permissions from this objects parent -ok..but there are thousands of files for which this is tedious as I have to do it individually because I am not able to do it on the folder. Do I have any other option? Also System Restore for that drive is off.