To simplify \( 8^{-5} \times 8^3 \), we can use the property of exponents that states \( a^m \times a^n = a^{m+n} \).
Here, we have:
\[ 8^{-5} \times 8^3 = 8^{-5 + 3} = 8^{-2} \]
Now, \( 8^{-2} \) can be rewritten as:
\[ 8^{-2} = \frac{1}{8^2} \]
So, the simplified form of \( 8^{-5} \times 8^3 \) is \( \frac{1}{8^2} \).
Therefore, the answer is \( \boxed{B} \).