WARNING.... Do this at your own risk we accept no responsibility!
Please backup your phone before doing all this you can Master backup it is the app for this and backup your Contacts too because master backup won't let u backup ur contacts
1. Download unrevoked3 for your operating system (Windows, Linux and Mac OS) from here.
Download Download unrevoked3 for Windows
Also download the modified HBOOT drivers by unrevoked.
2. Extract the unrevoked modified (HBOOT) USB drivers and save them on your desktop.
3. Switch off your HTC Wildfire and boot into the HBOOT menu by holding down Power + Volume Down.
4. Select HBOOT USB at the HBOOT menu by pressing Volume Down 4 times and then the Power button. Wait until you get an "SD checking" message.
5. Connect your phone to your PC with the data cable. Your phone should display "HBOOT USB PLUG".
6. Click on Start and right-click on Computer. Select Properties and go to the Device Manager.
7. Under Other Devices, you should see the Android 1.0 device. Right-click on Android 1.0 and click on Update Driver Software. Browse your computer for the driver software and select the Android modified USB drivers folder that you extracted on your desktop.
8. Once the driver is installed, click on Close and make sure that the Android Bootloader Interface is being displayed under Android Phone in the device manager.
9. Now close HTC Sync if it is running and connect your phone to your PC again using the data cable.
10. Enable USB Debugging on your phone by going to the Menu > Settings > Applications > Development and enabling the USB Debugging option.
11. Run the unrevoked3 reflash package tool that you just downloaded. Follow the instructions and your HTC Wildfire will be rooted in a few minutes.
Your HTC Wildfire is now rooted. You now have full access to the file system on your HTC Wildfire and are free to flash any custom ROMs and backup your current ROM with the data.