@calcdude84se: Oh no, hate Slax. I used it once, and had a horrible experience. Use Puppy Linux for a live, savable distro. Very useful for regular and recovery usage. If you don't mind some waiting, you can install Ubuntu on a USB HDD and boot off that.
@Svakk:
I found my little tool again

It's here:
http://www.pogostick.net/~pnh/ntpasswd/
(Kerm:
http://www.petri.co.il/forgot_administrator_password.htm, #3 in tool list. It's 100% legal, but of course, it's up to you on whether you use the spork for regular, legal purposes or for murder.

)
Very famous tool, yet very tiny website (and file size)!
I can help you install it on the flash drive if you wish to do so. Of course, not on this website. Shoot me a PM on IRC, or a general email (no mention of this tool), and I'd be happy to set it up for you. It's a lifesaver more than a hack tool, so it's good to have
EDIT: Wow, I messed up the spacing between lines with too many smilies.... too addicted, eh?