Question: I would like to know whether there is any way I can run an absolutely unknown executable file without being hacked even if the file contains a lot of malicious code. Is there any program in which I can run it without putting myself in any risk?

Answer: 
If you really want the closest thing to a 100% safe way of running malware:

Create an account with Amazon Web Services, fire up a server but don't connect it to anything (read: put it in its **own** VPC) and do your analysis there. Burn after analyzing. 

Side note: there are some pre-created AMIs in the " Ec2 Market Place" that have malware analysis tools loaded on them already if you feel like getting frisky.
Another thing to consider, is whether this program will attempt to replicate, leak data, or do other damage over the network. To prevent that from occurring, I would recommend using a Virtual Machine. Take care to remove host access (or sometimes called host / guest file sharing) and remove any virtual networking interfaces before running the program in the VM. Good VM hypervisors should give reasonable protection to the data and hardware on the VM host, but if you're really worried about that, consider running it in a VM on dedicated, non-networked VM host.

Also check out [sandboxie](http://www.sandboxie.com/), it's basically intended for running untrusted programs in isolation. This does not prevent the program from making network connections though.