It is the BIOS password. If the ThinkPad has a security chip (You don't say what ThinkPad you have and there are hundreds of models.), it is in that and can't be reset. This is a design feature to turn stolen laptops into scrap.
T
June 2010
Automatic Answer
While you wait for answers, we may have found some information which could help you.
howtomendit.com for free repair help, information and advice.
Try fixfault.com to fix notebooks/laptop pcs.