As system administrators we could have received multiple calls from laptop/home users saying that they have forgotten the Local Administrator Password and ask us to crack.
While there are many third party hacking /crack tools on net, below article helped me to do that without any of those.
Here is the article which explains in simple way to reset the password… Hope it would be useful to you sometimes in your operations…
http://www.unp.me/f140/break-administrator-password-of-windows-xp-23706/