Many times you cannot boot into normal Windows  mode because of wrong user password, you can start Windows XP in safe  mode and login the default admin account to recover other user password. 
What is XP safe mode?
All versions of Windows come with a diagnostic setup called "
Safe Mode".  Safe mode starts Windows with a limited set of files and drivers.  Startup programs do not run in safe mode, and only the basic drivers  needed to start Windows are installed. Many average PC users are  unfamiliar with the purpose of Safe Mode and only encounter it when  there has been a system crash or similar problem. They are then puzzled  by what to do next.  Safe mode is the best thing to use if you are having any problems  booting your system. The purpose of Safe Mode is to help troubleshoot  computer problems by operating with a bare minimum of drivers and  Windows components. It can also be used if you have any issues form  running any new software on your computer. By reducing what is running,  Safe Mode can help you diagnose a problem caused by a faulty driver or  software. 
What is XP default administrator account?
Windows XP passwords are used to protect the system against unauthorized intrusion. The 
default Administrator account on an XP machine is typically reserved for performing special tasks on  the computer since it has no security restrictions placed upon it. It is  often overlooked, and many users do not even know that it exists. If  you have forgotten the password for the normal account on your XP  system, you can recover it by login the default admin account. 
How to get into XP safe mode and recover  user password?
Step 1. To get into the Windows  XP Safe mode, as the computer is booting press and hold your "
F8 Key" which should bring up the "
Windows Advanced Options Menu" as shown below. 
 Note:
  Note: With some computers, if you press and hold a  key as the computer is booting you will get a stuck key message. If this  occurs, instead of pressing and holding the "
F8 key", tap the "F8 key" continuously until you get the startup menu.  
Step 2. Use your arrow keys to move to "
Safe Mode with Command Prompt" and press your Enter key.  
Step 3. Select the operating system to start. 
 Step 4.
  Step 4. Windows XP Safe Mode is loading.
 Step 5.
  Step 5. A logon screen displays all OS user names, there are 2 accounts in this example: 
Administrator, 
Mike.  Here we assume that you want to recover the "Mike" account password.  Enter password for your administrator account to get in safe mode, the  default password is blank if you never set a password for administrator  before.  It is similar with the normal logon screen, but normal logon screen will only list Mike.  
Screenshots: Safe Mode logon screen VS normal logon screen 
 
  Step 6.
  Step 6. After entering safe mode, you can see the Windows command prompt. Enter "
net user" and press Enter to list all the user names in your Windows XP. Enter "
net user Mike 123456789"  and press Enter. It means that you want to reset "Mike" account  password to "123456789". When it takes effect, you can login the "Mike"  account with the new password of "123456789". 
 Step 7.
  Step 7. Enter "
shutdown -r" and press Enter, the System will be restart, then you can access Mike account in normal logon mode. 
How to recover xp password if the default administrator account is also protected?
Sometimes, you may set a password on the default admin accoun to  enhance security, you also forgot its password. What can you do now?  
Step 1. Download a boot CD, such as 
Windows Password Recovery Tool Professional,  from the Internet. This type of boot CD has a password reset program  that can be used to recover the Administrator password in XP.  
Step 2. Install and run that application program.  
Step 3. Burn the boot CD (which comes in a writable ISO file format) to a blank CD.  
Step 4. Take the boot CD that you have burned and  insert it into the computer whose Administrator password needs to be  reset. Start the computer and boot from the CD.  
Step 5. Choose the password reset option in the boot  CD. This option will be located differently depending on what type of  boot CD you choose, but in each case the general process for launching  it will be the same.  
Step 6. Select the Administrator account as the  account you wish to modify and choose to either reset the password or  completely remove it.  
Step 7. Restart the computer and allow it to boot to  the operating system. Log in to the operating system on the  Administrator account using the new password you have chosen. 
Screenshots on recover XP administrator password
 
  
  
 
Finally
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Article source: http://www.windows7password.net