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MSKB Article # 305478 to create a password reset disk for a computer that is not a domain member in Windows XP.
The instructions for making a password reset disk for a computer in a domain in Windows XP can be found in MSKB Article # 306214.
Make a couple of sets, put them in two different 'safe' places and sleep better, knowing that you have these on hand should you need them. One word of caution, these disks can be used by anyone to bypass passwords. If you require high security, be sure to keep these disks in a secure location. How often these disks need to be made is dependent on how often you change or add passwords.