Not sure if I'm understanding the problem correctly, but there was a computer here in the office that had the same issue. All I did was put a win2k disc in the drive and boot off of it. Then I went into the recovery console naturally since it's 2k and not XP it didn't need the PW. So I loaded XP in 2k's recovery console. Then.. I just exited and booted up and the pw was gone
Maybe I got lucky.