If you have forgotten the Windows Administrator password, you can either reset or even crack it. Windows XP stored it username and password information in file named SAM at %SystemDrive%:\Windows\system32\config. The SAM file is encrypted using LM hashes, which is vulnerable to rainbow table attack and bruteforce attack.

I am going to do this with already available tools in Backtrack.

cd /mnt/hda1/WINDOWS/system32/config/
bkhive system key
samdump2 SAM key > /root/pass1

This will dump the hashes in /root/pass1 file as shown below

Root Key : CMI-CreateHive{C4E7BA2B-68E8-499C-B1A1-371AC8D717C7}
Administrator:500:aad3b435b51404eeaad3b435b51404ee:31d6cfe0d16ae931b73c59d7e0c089c0:::
Guest:501:aad3b435b51404eeaad3b435b51404ee:31d6cfe0d16ae931b73c59d7e0c089c0:::
madhurdesk:1000:aad3b435b51404eeaad3b435b51404ee:ba03a114def8d5c913983436960e592c:::
HomeGroupUser$:1002:aad3b435b51404eeaad3b435b51404ee:cdaac87aeeac96724b4a2af3c4879242:::

Cracking using John the ripper,

john --format=NT /root/pass1
Loaded 1 password hash (NT MD4 [128/128 SSE2 + 32/32])

Or, you can directly reset it with chntpw

/pentest/password/chntpw -u administrator SAM