Start administrator's command prompt:

Open start menu

Type cmd

Press Ctrl+Shift+Enter

Fire up the utility called diskpart. Literally,

enter diskpart command.
DISKPART> prompt should appear.
Now in diskpart prompt type: LIST DISK and it will
list all your Disks including your USB drive. Note the
Disk number.
Type the SELECT DISK <num>, where <num> is your
USB disk number. Just look for right capacity of the
drive.
List all partitions on it: LIST PARTITION.
For every one of them type: SELECT PARTITION
<num>, where <num> is the number of partition
and DELETE PARTITION.
Now check there aren't any of partitions left: LIST
PARTITION. If there aren't any create one partition:
CREATE PARTITION PRIMARY - If it asks about size,
just use the default value - it is the max capacity
FORMAT FS=FAT32 QUICK - I think USB flash drives
use FAT32 filesystem by default. You could use
NTFS instead too.
That's it!