Mac OS X 10.2 through 10.2.8
For any account passwords with the exception of the administrator account, you can reset them from within OS X. First, login with the administrator account and navigate to system preferences from the apple menu. Next, choose the accounts icon. Be sure that the lock in the lower left hand corner is unlocked. If it is not, click it to unlock. You may be required to type in your admin password.
Now, select the username whose password that you want to change. Click the Reset Password button (Mac OS X 10.4) or the Change Password button (Mac OS X 10.5). It should now ask you to type in and verify your new password. Click the reset password button and click OK if a box pops up verifying change to your keychain.
Mac OS X 10.1.5 or earlier
For any account passwords with the exception of the administrator account, you can reset them from within OS X. First, login with the administrator account and navigate to system preferences from the apple menu. Next, choose users from the view menu. Be sure that the lock in the lower left hand corner is unlocked. If it is not, click it to unlock. Now, select the username whose password that you want to change. Click edit user. Enter a new password in both the password and verify password fields and click save.