Thanks a lot for this. I succesfully recovered my password today. For those asking, Here are steps.
1) Get yourself a blank CD
2) Download an ubuntu live cd
http://www.ubuntu.com/getubuntu/download
3) Download Iso-Burner:
http://www.ntfs.com/iso-burning.htm
4) Open Iso-Burner and burn a CD with the ubuntu ISO you just downloaded
5) Boot your machine with said CD. You may need to change the boot order on your BIOS.
6) You'll be asked for your language of choice, then you'll get a menu. Select Try Ubuntu without any change to your computer.
7) Once you get the desktop, from the Application menu select Accesories, then console.
8) Type this:
cd /mnt
sudo mkdir acer
sudo mount /dev/sda1 /mnt/acer
cd acer
cat aimdrs.dat
This will print the contents of the file, your password included.