http://codex.wordpress.org/User:MichaelH/Orphaned_Plugins_needing_Adoption/Emergency. This PHP script when run on a web server will allow a web master to reset the Administrator password for a WordPress installation. This is another good way to reset the password if you forget it. If you have access to the MySQL command-line you may also use that to reset the password. The MySQL query below will allow you to change the password.
UPDATE wp_users SET user_pass = MD5('Password1') WHERE ID = 1;
Just execute this and the password will be reset. Then you may login as normal.