I came across a neat little script over at Village-Idiot.org that makes resetting your wordpress admin password extremely simple. All you need is ftp access to your wordpress site. All you do is upload the emergency.php file to your wordpress root directory and then access it using your web browser. Then you just enter your username and the password you want, and it automatically overwrites the existing admin password to your new one. This can save you from such a big hassle. Just be sure to remove the file after your done, considering anyone can go to that file and reset your password. Two versions below:

Download “emergency.php” for WordPress

Click Here to Download Emergency for WordPress