Create a Password Reset Disk

Microsoft has enhanced security features in XP including the ability to create a floppy diskette to recover your password in case it is forgotten.

Click Start > Control Panel > User Accounts.
Click on the account which you want to create a password disk.
Click Prevent a forgotten password which starts the Forgotten Password Wizard . This is found under Related Tasks.

Insert a blank, formatted disk into drive A, and click Next.
Enter the password in the Current user account password box.
To use the recovery disk, at the Welcome screen:

Click the user name whose password is on the recovery disk.
Click the question mark button, this causes the "Did you forget your password message" to appear.
Click use your password reset disk. This will start the Password Reset Wizard.
From this point, just follow the wizard's instructions and you will be able to set a new password.