Sure,
right after you power on the computer start tapping "F8" about once a second...
Now you get a prompt, select "SafeMode"...
It will boot, but this time you will see a hidden account called "Administrator" above the account that you don't have the password for , click on this "Administrator" account.
Now go to control panel and you can just delete or change the password for the other account.
Bam!! You're a hacker!!
Oops, wrong OS... Sorry :-(