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Depends what install media you have access to I guess. I've not actually had to fuck around with that for a few years having pre-installed Windows for the most part.
You can get Windows password crackers. I've used one of those before to rescue a laptop. I've got it here on a CD somewhere. Called Orphcrack or something similar. I'm suggesting it's probably quicker to try and crack the password than reinstall.
I have a few laptops but you're not west any more are you?