The one we will use for the purpose of this article is 
called Asterisk 
Key   by Passware. This easy   to handle freeware program 
analyzes covered passwords and reports them to you. To use it, simply open 
the program, highlight the  password box or open the web page containing 
the covered password and click the 'recover' button.

Of course, commercial software programs are available 
that can do considerably more than this, for a price. One example of this is Rixler software's Password Recovery 
Toolbox       
        which scans 
your system and enumerates all Internet explorer stored passwords, autocomplete 
data (data you entered  repeatedly when filling in web forms), Outlook 
Express passwords, Internet login passwords,  etc.
      
          
        This information 
is then presented to  you in an easily accessible form. Scary, 
but very useful for system  administrators.
Getting around Windows XP user 
passwords     
 Windows XP saves user passwords as 
an encrypted numerical 'hash' - taking  a password of say 'password' 
and turning it into something like "HT5E-23AE-8F98-NAQ9-83D4-9R89-MU4K." This hash value is then stored 
in the SAM (Security Accounts Manager) file, found in the C:\windows\system32\config 
directory.    
      
         
This portion of the file is then re-encrypted by the syskey utility which 
considerably strengthens the encryption.  The data needed to remove the 
syskey encryption is stored in the SYSTEM file in the same directory.  The 
directory itself is invisible and inaccessible to all users except the operating 
system itself while windows is running.  By using an alternate operating 
system that can read your disks, or by transferring your disks to another 
windows machine, you can gain access to the SAM and SYSTEM 
files.    
Resetting XP user passwords with the 
Administrator account       
All versions of Windows XP include a built in account called 'administrator.' 
This account has full privileges in XP, and is capable of resetting the 
passwords for all user accounts.  This can be a lifesaver if you have 
locked yourself out of your normal user account.  Use of the Administrator 
account depends on which version of XP you are currently using.   
With XP professional:  
You will have been prompted to create a password for the 
Administrator account during the installation process. If you have this password 
recorded, or if you entered a blank password (commonly done, but not a 
secure idea  ), then 
you can access the Administrator account and  reset your forgotten 
password.
  To login as administrator: From the Welcome screen, press CTRL+ALT+DEL 
twice to bring up a login window  for the administrator 
account.